The World Economy and Financial System: A Paradigm Change Offering a Sustainable Approach

The global financial system has problems, and this book introduces a new sustainable approach to replace it. It will be of interest to academics, policymakers, and professionals working with financial markets, financial economics, sustainability, and impact finance.

Format: Hardback
Length: 182 pages
Publication date: 18 April 2023
Publisher: Springer International Publishing AG

The current global financial system has been plagued by numerous financial crises, including the Great Depression, the Global Financial Crisis, the COVID-19 pandemic, and the ongoing war between Russia and Ukraine. These crises have highlighted the systemic flaws and weaknesses of the current system, emphasizing the urgent need for a paradigm shift and mindset shift to create a better world for society.

In response to these challenges, this book introduces a novel economic and financial system that aims to address the underlying issues and promote sustainable growth and development. The proposed system is designed to be more resilient, transparent, and accountable, while also promoting social and environmental sustainability.

The book is written for a wide audience, including academics, policymakers, and professionals working with financial markets, financial economics, sustainability, and impact finance. It provides a comprehensive overview of the current financial system's problems and the proposed solutions, using a combination of theoretical analysis, empirical evidence, and case studies.

One of the key features of the proposed system is its focus on decentralized finance (DeFi) and blockchain technology. DeFi is a decentralized financial system that operates without traditional intermediaries, such as banks or financial institutions. It uses smart contracts and decentralized applications (dApps) to enable peer-to-peer lending, trading, and investment, without the need for centralized authority.

Blockchain technology is a distributed ledger technology that enables secure and transparent recording of transactions and assets. It has the potential to revolutionize the way financial transactions are conducted, reducing the risk of fraud, corruption, and hacking. The proposed system uses blockchain technology to create a decentralized financial infrastructure that is accessible to all, regardless of their location or financial status.

Another important aspect of the proposed system is its emphasis on sustainable development and environmental sustainability. The book argues that the current financial system is heavily reliant on fossil fuels and other non-renewable resources, which contribute to climate change and environmental degradation. The proposed system aims to promote the use of renewable energy sources and sustainable practices, while also promoting economic growth that is not at the expense of the environment.

To achieve these goals, the proposed system includes a range of policies and regulations that promote financial inclusion, transparency, and accountability. It also emphasizes the importance of education and awareness-raising to promote a better understanding of financial systems and the role that they play in shaping our world.

In conclusion, this book presents a new economic and financial system that aims to replace the current system and promote sustainable growth and development. The proposed system is designed to be more resilient, transparent, and accountable, while also promoting social and environmental sustainability. It is written for a wide audience, including academics, policymakers, and professionals working with financial markets, financial economics, sustainability, and impact finance. By implementing the proposed system, we can create a better world for ourselves and future generations.

Weight: 402g
Dimension: 210 x 148 (mm)
ISBN-13: 9783031275296
Edition number: 1st ed. 2023