I respnded to this in the comments section
Protracted economic stagnation in rich countries continues to threaten the development prospects of poorer countries. Globalization and economic liberalization over the last few decades have integrated developing countries into the world economy, but now that very integration is becoming a threat … MORE >
The rich countries have dropped the ball, but we are not only experiencing an economic crisis, we are facing an ecological crisis, which tells us that much of what people desire to raise their standards of iving is unattainable as ecosystems and climate collapse and resources to fuel growth become unattainable. There are only so many fish in the sea, aquaculture requires scooping up all the bait fish to feed the raised fish and destroying coastal ecosystems, you can not build cities without wood and the forests are disappearing. China fueled its rise with the forests of Southern Asia. Now that they are mostly gone, it is scooping up the forests of Africa. Where are the next countries rising going to find enough wood to build their cities?
And as we shall fuel the 21st century and beyond with clean power or civilization collapses, development money to build coal fired power plants is an abomination, money to develop offshore oil and gas guarantees nastier storms, heat waves, floods and fires as well as wars and famines.
We need a totally different mode of development based on ecological principles and local control of resources, and an avoidance of dependence on global markets. i do not see enough ecological thinking in this essay, and without ecology equally being a part of the formula with justice and non violence, the economy is unlikely to work all that well except for the plutocrats.
In the short term one very large sum of money that could be tapped is all the money used to support the militaries of the sworld. Instead of sellling weapons and dropping bombs, we could build water treatment plants, composting toilets, clinics and schools while suporting trade based justice and healing ecosystems. That would create a much larger number of jobs where they are really needed.