Progressive Policies for Economic Development: Economic Diversification and Social Inclusion after Climate Change

Despite the unprecedented gravity of the challenges posed by global warming, most political systems have not given them the required priority. The oil industry has resisted, and many countries have taken only token measures to reduce emissions and mitigate the worst effects. In this context, this book examines the progressive options available to today's developing countries as they face the limitations of neoliberalism and the existential challenge of global warming. Examining the cases of both low-income fossil-fuel-dependent economies and large middle-income economies, this book argues that for all developing economies the best way forward includes "green" macroeconomic policies articulated with progressive industrial and social policies, because they will allow these countries to achieve economic diversification, build alternative drivers of growth, and deliver improvements in the distribution of income, wealth, and power. There is urgent need for this progressive policy agenda-grounded in heterodox economics and committed to social integration and the reduction of multiple inequalities-to improve the economic outcomes for these countries, improve the lives of their citizens, and help them meet their global climate targets. The book argues that capitalism challenges the possibility of free and dignified existence while climate change challenges the possibility of life itself, and that the challenges that the former and the latter pose must be confronted together. Since neoliberal capitalism will not adopt the necessary policies to reduce carbon emissions rapidly, it must be overthrown-not only for ethical or logical reasons, or to shift to better arrangements for the functioning of society, but also in order to preserve the conditions necessary for life itself. This agenda for progressive economic development is essential reading for anyone interested in heterodox economics, development studies, international politics, international relations, or sustainable business.