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Festering Global Problems Require More Globalized Financing
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Festering Global Problems Require More Globalized Financing

Ajay Chhibber
Brookings Institution, 2016
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Recommendation

The problem of financing global public goods is a thorny one. The entire world benefits from actions on threats such as terrorism or climate change. But getting nations to fund these measures is difficult; they are loath to finance efforts beyond their borders. In this enlightening blog post, economist Ajay Chhibber offers various ideas on how to support global public goods. getAbstract recommends this thought-provoking essay to economists, policy makers and business executives with a global mind-set on sustainability.

Take-Aways

  • The world has become more aware of the need to collaborate in pursuing sustainable development but has not adequately funded global public goods.
  • Actions on issues such as natural disasters, climate change and conflict management benefit the entire world and require global cooperation, but countries are reluctant to extend financing for public goods beyond their boundaries.
  • Cutting down on military spending would pay for peacekeeping initiatives. A worldwide carbon tax would cut emissions. Taxes on foreign exchange transactions could help deal with destabilizing capital movements.

About the Author

Ajay Chhibber is a visiting scholar at George Washington University and a visiting professor at New Delhi’s National Institute for Public Finance and Policy.

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