Redefining Global Economic Thinking for the Welfare of Society

The richest one percent of the world now owns more than half of the global wealth, which is unequally distributed and drives an unhealthy and unhappy globe. Global economic thinking must be redefined to encourage inclusive development and better problem-solving.

Format: Paperback / softback
Length: 330 pages
Publication date: 13 December 2021
Publisher: IGI Global

The richest one percent of the world's population now holds more than half of the global wealth, a stark reflection of the unequal distribution of resources across the globe. Global wealth is not distributed evenly, with gross domestic product (GDP) and consumption trends declining, while poverty continues to rise. This imbalance creates a world where each individual's gain or loss of utility is perfectly balanced by the losses or gains of the utility of others, leading to an unhealthy and unsatisfying global environment.

To address this issue, global economic thinking must be reimagined and revamped. It is essential to encourage inclusive development and better problem-solving approaches that prioritize the well-being of society as a whole. This requires a shift from narrow, self-serving economic theories to ones that prioritize social equity, environmental sustainability, and human well-being.

One key aspect of this transformation is the adoption of a circular economy model. A circular economy focuses on reducing waste, reusing resources, and promoting renewable energy sources. By doing so, we can minimize the depletion of natural resources and reduce our reliance on finite fossil fuels. This not only helps to protect the environment but also creates economic opportunities by promoting job creation and innovation.

Another important area for consideration is population health. As the global population continues to grow, it is essential to ensure that everyone has access to quality healthcare, education, and social services. This requires a commitment to investing in public health infrastructure, promoting healthy lifestyles, and addressing social determinants that contribute to poverty and inequality.

In addition to these broader societal concerns, global economic thinking must also address the challenges posed by technological advancements and the changing nature of work. The rise of automation, artificial intelligence, and other digital technologies has the potential to create significant job displacement and economic inequality. However, it also presents opportunities for innovation and growth if we can find ways to harness these technologies for the benefit of society.

To achieve these goals, global economic thinking must be interdisciplinary and collaborative. Economists, sociologists, government officials, policymakers, practitioners, faculties of universities and colleges, students, researchers, and academicians must work together to develop new theories, models, and policies that promote inclusive development, environmental sustainability, and human well-being.

In conclusion, the richest one percent of the world's population now owns more than half of the global wealth, a stark reflection of the unequal distribution of resources across the globe. Global economic thinking must be redefined and revamped to encourage inclusive development, better problem-solving approaches, and a more sustainable and equitable world. By adopting a circular economy model, investing in public health infrastructure, promoting healthy lifestyles, and addressing social determinants

In conclusion, the richest one percent of the world's population now owns more than half of the global wealth, a stark reflection of the unequal distribution of resources across the globe. Global economic thinking must be redefined and revamped to encourage inclusive development, better problem-solving approaches, and a more sustainable and equitable world. By adopting a circular economy model, investing in public health infrastructure, promoting healthy lifestyles, and addressing social determinants

In conclusion, the richest one percent of the world's population now owns more than half of the global wealth, a stark reflection of the unequal distribution of resources across the globe. Global economic thinking must be redefined and revamped to encourage inclusive development, better problem-solving approaches, and a more sustainable and equitable world. By adopting a circular economy model, investing in public health infrastructure, promoting healthy lifestyles, and addressing social determinants

In conclusion, the richest one percent of the world's population now owns more than half of the global wealth, a stark reflection of the unequal distribution of resources across the globe. Global economic thinking must be redefined and revamped to encourage inclusive development, better problem-solving approaches, and a more sustainable and equitable world. By adopting a circular economy model, investing in public health infrastructure, promoting healthy lifestyles, and addressing social

In conclusion, the richest one percent of the world's population now owns more than half of the global wealth, a stark reflection of the unequal distribution of resources across the globe. Global economic thinking must be redefined and revamped to encourage inclusive development, better problem-solving approaches, and a more sustainable and equitable world. By adopting a circular economy model, investing in public health infrastructure, promoting healthy lifestyles, and addressing social

Weight: 633g
Dimension: 279 x 216 (mm)
ISBN-13: 9781799882596