BOOK REVIEW: TOWARDS A BETTER GLOBAL ECONOMY: POLICY IMPLICATIONS FOR CITIZENS OF THE WORLD IN THE 21ST CENTURY. Franklin allen, Jere R. Behrman, Nancy Birdsall, Shahrokh Fardoust, Dani Rodrik, Andrew Steer and Arvind Subramanian. Oxford University Press.
Abstract (2. Language):The book explores the prospects of the Global Citizenship Foundation for its support of economic growth in low-, medium- and high-income countries, with seven distinguished economists gained in the field of economics and ten commentators who are respected in this area. The goal of a better globalization-oriented pro- genction is to ensure sustainable economic growth by the authors contributing to the formation of the book. The book, anxiously addressing the effects of climate change on the economy, is also intended to raise awareness for sensitive readers. From the writers who think that climate change is one of the most important problems that the Earth faces, Dani Rodrik has received a section entitled "The Past, Present and Tomorrow of Economic Growth" in the book. In this section, Rodrik demonstrates that the developing world is growing economically with a pre-requisite for improving average living standards and opportunities. In the developing world, the best way to improve living standards has been to increase industrial production and expand international trade. In addition, he emphasized that improving agricultural policies and having an autonomous structure will play an important role in increasing living standards and opportunities. Again, Rodrik stated that countries such as China, India, Brazil and Mexico were showing an increase in industrialization, commodity production and commerce between 1750 and 1913, and increased in these areas in countries like England, United States, Germany and Japan. According to the author, the presence of well-functioning legal and political systems and the presence of colony activities in many developed countries have caused these countries to increase in trade and production, and to grow economically. Japan has become the first country to succeed in industrialization when it is not located in Western Countries. The industrialization that began after 1850s was modeled on other countries in the east and southeast Asia. The harmonization and consolidation of existing government structures and government policies seems to be effective in the development of the Japanese economy. Growing economically, Japan has begun to set the standard of living of the West over time. Other countries that have embraced the Japanese economy as a role model are stressed in the book, which unfortunately can not catch up with economic growth like Japan. For this reason, Rodrik demonstrates government failure with market failures such as excessive regulation, high taxes, corruption, restrictive labor laws, fiscal pressure, insecure property rights, bad contract implementation and macroeconomic instability. Speaking about the future of economic growth is also becoming increasingly gloomy in the book emphasized. The book shows that the world's richest economies can not perform well due to high public debt, the ban on industrial policies of Asian countries, which has a good impact on the economic growth of the world trade organization, the increase in technological developments and the increase in imports from low- the difficulties in finding a job, and the policies to reduce greenhouse gas emissions, which increase with industrialization, are shown as obstacles to economic growth. It also stated that it should not be ignored that there is a link between pollution and environmental pollution between industrialization and climate change. Andrew Steer, who also writes in the book, is questioning whether there is an existing pattern of sustainable growth in his department. Today, it emphasizes that energy and resource utilization are increasing and productivity is decreasing. According to him, many economies will suffer in the future due to reasons such as erosion, salinization and desertification. Today, the quality of ecosystem services is even lower than it was 50 years ago. Looking at future estimates, the author suggests that the carbon intensity is responsible for about 5 million deaths per year. He emphasized that sustainable development depends on the monitoring of low carbon policies. In general, it would be useful to read the book by those who are interested in it, in terms of obstacles to sustainable development.