The Economist features a guest article by Jeff Sachs entitled “The Next Frontier” laying out his vision for sustainable development, and the role of economic policy in climate change and youth unemployment.
Sachs writes, “Standard economic policies aim for growth, full stop. Sustainable development aims for growth that is broadly shared across the income scale and that is also environmentally sound. Mainstream economics divorces the short term from the long term. There may be big problems ahead—climate change, food scarcity, demographic shifts and poorly trained young people—but macroeconomists prefer to improvise today and worry about the future later. That approach also suits politicians, aligning the policy cycle with the electoral cycle. But it is not a recipe for producing robust, inclusive growth.”