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Rethink development plans

Published: 
Monday, November 20, 2017
Eclac tells region:

“Latin America and the Caribbean needs to move toward a new development paradigm based on equality and environmental sustainability as the drivers of growth. The current model, capitalism, doesn’t work,” Alicia Bárcena, the Executive Secretary of the Economic Commission for Latin America and the Caribbean (Eclec), said at a high-level forum in Mexico City.

Bárcena participated in the opening session of the international forum The Siege Upon Civilization: From Wall to Wall – organized by the National Autonomous University of Mexico (UNAM) and the University of Guadalajara (UDG) – where participants debated the Origins Project: Climate change, the environmental and social consequences for Mexico and the world, carried out by Arizona State University (ASU).

Bárcena explained that multilateralism is the only system that permits us to work for the people.

“We are in a change of era, with tectonic shifts occurring: migration, climate change, major geopolitical movements in the world, a fourth industrial revolution based on technology, and we don’t know what is going to happen with the future of work,” she said.

She added that today there is an urgent need to make a big environmental push that favours carbon-free production and consumption.

“We are not afraid to move toward a model with a progressive vision, with universal access to basic goods, to social rights, to equality, because inequality conspires against democracy,” the senior United Nations official said.

Bárcena, who is also a biologist by profession, recalled the tragic consequences that climate change has had for the region since, in addition to losses in biodiversity and environmental pollution, natural disasters have accumulated a cost of US$300 billion from 1970 through 2017.

Along with underlining that climate change “is the biggest market failure ever,” the international official indicated that while globalization has helped pull millions of people out of extreme poverty, inequality has increased in an alarming way.

“Currently, one per cent has half of the income of the rest of the world’s population. Wealth is concentrated in very few hands,” she stated.

Citing the most recent study of Oxfam, Bárcena said that a mere eight individuals have the wealth equivalent to 3.6 billion people. In addition, tax evasion in Latin America and the Caribbean totals US$340 billion dollars (or 6.7 per cent of GDP).

“This is an example of the culture of privilege that we must eradicate,” she said.