Human-Centred Economics: The Living Standards of Nations
The Project on Prosperity and Development hosted a discussion with Richard Samans about his new book, HUMAN-CENTRED ECONOMICS: The Living Standards of Nations. Samans is Director of the International Labour Organization’s (ILO) Research Department and has served as its Sherpa to the G20, G7, and BRICS processes. He was a Special Assistant to the President and National Security Council Senior Director for international economic policy in the second Clinton-Gore Administration.
In this book, Samans proposes a major reform of macroeconomic theory and policy to address the chronic underperformance of economies with respect to inclusion, sustainability, and resilience. Arguing that reform is necessary to revitalize the liberal tradition and multilateral system in a century facing further inequality and dislocation from artificial intelligence, climate change, and other shifts and shocks, he outlines the implications of this rebalanced growth and development model for domestic and international economic policy. Samans discusses an overhaul – comparable in scale to the Marshall Plan and all possible without increases in bilateral aid – of the international financial and trade architecture to triple climate and sustainable development financing for developing countries, double climate research & development, and replace over half of the world’s coal plants in the next 15 years.
According to Samans, “Many have called for a new Bretton Woods conference to renew the multilateral system and improve the coherence of its economic, social and environmental dimensions. But these appeals have never amounted to much in part because they have lacked an organizing principle—a new or substantially revised policy model upon which to build a renovated institutional edifice.”
The e-book can be accessed here.
This event is made possible by general support to CSIS.