Kemal Dervis

Now, more than ever, the world needs growth oriented and socially inclusive policymaking Is the world giving up on the promise of ever greater prosperity for all, on functioning democratic institutions, and on long term peace? Is the special set of circumstances that led to the recent rapid growth in emerging markets unlikely to be present in the future? Will the second decade of the twenty first century end with “secular stagnation”? Does the rise of authoritarianism, populism, and fanatic nihilism—all experienced over the last few years—threaten to unravel what has been built painstakingly since the catastrophe of World War II?Kemal Dervis addresses these and similar questions in this thought provoking series of essays written for Project Syndicate from 2011 to 2015. The essays are organized in three sections on global economicinterdependence, inequality and the political economy of reform, and the specific challenge of Europe.The common theme is the need for growth orientedand socially inclusive policy making in an interdependent world. If adopted, these kinds of policies offer the potential for another wave of unprecedented human progressaided by breathtaking new technologies. However, a huge and destabilizing disruption is possible if policy making is not globally cooperative and is not focused on inclusion and greater equity.Dervis argues that a main challenge for nations and multinational organizations is to build multilevel institutions “above and below,” as well as “parallel” to, the nation state. These can range from the local to the regional and global, and should include civil society in its many manifestations.These essays synthesize the experience and analysis of a scholar and policymaker with national, regional, and international experience at the highest levels. Dervis exhibits a passion for combining strongly held values with political feasibility.

"A bedrock American principle is the idea that all individuals should have the opportunity to succeed on the basis of their own effort, skill, and ingenuity.—Federal Reserve Chairman Ben BernankeIncome inequality has been on the rise since the late 1970s, but the economic and financial crisis of 2008 instigated an unemployment epidemic that dramatically compounded this problem in the United States and catapulted the issue to the center of debate. There is wide agreement across the political spectrum that high inequality is contributing to undesirable circumstances such as stagnant household income, rising poverty rates, and increased borrowing and debt, though there is much less agreement on remedies. Inequality in America provides a snapshot of the issues posed by the growing concentrations of income, focusing on the United States but drawing on international comparisons to help set the context. The authors examine the economic, technological, and political drivers of inequality and identify worrying trends associated with its rise. They demonstrate how specific factors have exacerbated income inequality, including technological change, international trade, changes in labor market participation, and the increasing role of the financial sector. Their clear and concise exposition makes the issues surrounding income distribution accessible to a wider public.As they write in the conclusion: ""We have argued that tackling the worst effects of inequality and re-establishing a measure of equal opportunity requires increased investment in crucial public goods: first, education; second, a more progressive and simplified tax system; and third, increased international cooperation to avoid a race to the bottom. Education, tax, and other such policies are pursued by other highperforming advanced countries and can be shaped for the United States in a way that is fully consistent with an efficient and competitive American economy."""

The Arab Spring constitutes perhaps the most far-reaching political and economic transition since the end of communism in Europe. For too long, the economic aspirations of the people in the region, especially young people, have been ignored by leaders in Arab countries and abroad. Competing views as to how best to meet these aspirations are now being debated in the region. The outcome will shape Arab societies for generations to come. The authors of this book argue that significant economic reforms must accompany the major political transitions that are underway. Although each country has a different economic structure and history and must make its own way forward, there are spill-overs from trade and investment linkages, the contagion of news cycles, interaction of people and sharing of expectations that are too great to ignore. Some common foundation of the new Arab economies is needed. Towards that end, this volume addresses four central challenges of economic reform in the Arab world. First, with two-thirds of the population under the age of 30, the disproportionate burdens of unemployment and poor education can no longer be heaped on youth. Second, while some government policies may have improved the living standards of Arab citizens in the past, they have also entrenched cronies, enriched a small elite, and become unaffordable. Third, if Arab economies are to compete in the 21st century they cannot depend solely on oil and gas money, remittances, and tourism, but will require active, independent private sectors. And finally, the relative isolation of Arab economies--both from each other and from the world--must end. Rather than providing specific lists of recommendations, this book sets forth a set of guidelines and priorities for reformers who will begin creating new opportunities for youth, rebuilding the institutions of the state, diversifying the private sector, and cooperating with each other and integrating with the world economy.

"The simple yet challenging goal of this book is to deliberate the legitimacy, and advance the feasibility, of an important new concept—the notion of ""global civics."" We cannot achieve the international cooperation that is needed for a globalizing and interdependent century without embracing and implementing this important concept.The first section of Global Civics is a presentation of the overall idea itself; the second section consists of diverse assessments from around the world of the concept and where it currently stands. The third section discusses various options for a global civics curriculum.Praise for the Global Civics Program""I agree with Hakan Altinay that in order to navigate our global interdependence, we need processes where we all think through our own responsibilities toward other fellow humans and discuss our answers with our peers. A conversation about a global civics is indeed needed, and university campuses are ideal venues for these conversations to start. We should enter this conversation with an open mind, and not insist on any particular point of view. The process is the key, and we should not wait any longer to start it."" —Martti Ahtisaari, 2008 Nobel Peace Laureate""The growing interconnectivity among people across the world is nurturing the realization that we are all part of a global community. This sense of interdependence, commitment to shared universal values, and solidarity among peoples across the world can be channeled to build enlightened and democratic global governance in the interests of all. I hope that universities and think tanks around the world will deploy their significant reservoirs of knowledge and creativity to develop platforms to enable students to study and debate these issues. This project is a contribution toward that goal and I look forward to following it closely."" — Kofi Annan, Former Secretary General of the United Nations, 2001 Nobel Peace Laureate"

The huge costs of armed conflict, the great challenge of state failure, and the slow pace of international actions to address world poverty all point to weaknesses in the global institutional framework and the need for much more effective international cooperation. In this book, Kemal Dervis argues that it is time to build a new international governance structure, breaking away from a system that reflects the post World War II world toward one that is appropriate to the realities and requirements of the 21st century. He proposes a reform of the international institutional architecture based on high-level governance in both the political and economic domains by a renewed and modernized United Nations. Navigating between careful realism and bold idealism, he formulates a coherent vision encompassing both institutional reform and new ideas for policies supported by the specialized institutions such as the IMF, the World Bank, the WTO, the UN agencies themselves, and regional institutions such as the regional development banks. In this plea for "better" globalization, Dervis proposes that, under the legitimizing umbrella of the UN, the specialized institutions deal with the deep causes of the obstacles to poverty reduction and instability rather than their immediate manifestations. He recognizes the great potential that more and freer trade can have for accelerating growth throughout the world. He also stresses, however, that for this potential to be unleashed, the hearts and minds of people must be won by transforming not only the WTO framework but the entire governance of the international economic system into something that is perceived as more legitimate and more responsive to the concerns of the developing world as well as wealthy and creditor nations.