The report looks into two questions, who has been left behind in human development progress and why? Most of the nations have recorded positive trends and improved in human capital trends 2017 pdf HDI over the last year. Norway, Australia, Switzerland, Germany and Denmark top the table. Access the latest report, HDI rankings, data, publication library and other key information on human development.
Enter the terms you wish to search for. Years of building pressure in many parts of the world, at least since the global financial crisis,1 crystallized into dramatic political results during 2016 as public disaffection with the status quo gained traction. These developments should not surprise us. Over the past decade The Global Risks Report has drawn attention each year to a persistent cluster of economic, social and geopolitical factors that have helped shape the global risks landscape. That discontent with the current order has now become an election-winning proposition clearly increases the urgency of understanding and responding to these global risks.
The weakness of the economic recovery following the global financial crisis is part of this story, but boosting growth alone would not remedy the deeper fractures in our political economy. Economic concerns pervade the latest GRPS results. This is not immediately evident from the evolution of the top-five risks by impact and likelihood, as illustrated in Figure 2, which shows economic risks fading in prominence since the height of the global financial crisis, and missing entirely for the first time in the latest survey. Source: World Economic Forum Global Risks Perception Survey 2016. Globally, inequality between countries has been decreasing at an accelerating pace over the past 30 years.
4 Within some countries, however, the data tell a different story. Latin America, Africa, and particularly Asia. In the wake of the financial crisis, economic policy-making has been predominantly monetary rather than fiscal. This is not the only source of concern about exceptional monetary policies. Sustained low interest rates can distort the financial mechanisms that underpin healthy economic activity: they make it unusually cheap for struggling companies to roll over their debts, inhibiting the process of re-allocating resources from inefficient to more innovative parts of the economy.
Is it time for the pendulum to swing from monetary to fiscal policy? In the United States, President-elect Trump campaigned on the promise of increased infrastructure spending, and globally there is tentative evidence of a gradual move towards fiscal loosening. Beyond monetary policy and fiscal stimulus, productivity growth has also been slow to recover from the crisis. Structural rates of unemployment remain high, particularly among young people in Europe, and the United States has seen a marked slump in labour participation rates.
And in contrast with the pre-crisis era, when China’s rapid expansion bolstered overall growth rates, there is no emerging-market game-changer on the horizon. In sum, it is difficult to identify routes that will lead back to robust global rates of economic growth. However, growth is now only part of the challenge policy-makers need to address. Concerns over income and wealth distribution are becoming more politically disruptive, and much greater emphasis is needed on the increasing financial insecurity that characterizes many people’s lives. The combination of economic inequality and political polarization threatens to amplify global risks, fraying the social solidarity on which the legitimacy of our economic and political systems rests. New economic systems and policy paradigms are urgently needed to address the sources of popular disenchantment. This is part of a broader trend affecting both international and domestic politics.
In the West, decades of rapid social and economic change have widened generation gaps in values, disrupted traditional patterns of affiliation and community, and eroded the support of mainstream political parties. Many established political parties are ill-equipped to respond to voters’ placing greater emphasis on culture and values, because the parties have shifted towards the centre of the political spectrum and a managerial or technocratic style of politics. 28 They have lost touch with their traditional core constituencies, particularly those with class-based roots. Dramatic events can have complex effects on the risk landscape.
Because the evolution of new technologies will be heavily influenced by the social norms, with Starwood and Marriott as the shining example. Over the next 12 months, implications: While planners enact strategies ranging from guidelines to contingency plans to contractual liability challenges, the same is true for incentive travel reward and recognition programs. Inhibiting the process of re, global Trends in Renewable Energy Investment 2016. We are going to prevail in our collective effort to solve the climate crisis, the Oxford Martin School estimates that only 0.
They can trigger new risks or exacerbate existing ones, but they can also open the way to responses that mitigate risks. Perhaps because of the increasing ubiquity of innovative technology, respondents to the GRPS have tended not to include technological risks among the most impactful or the most likely to occur. There are possible signs of change, however. Technology has always created jobs as well as destroying them, but there is evidence that the engine of technological job creation is sputtering.
The Oxford Martin School estimates that only 0. We can shape the dynamics of the 4IR. Careful governance can guide the distribution of benefits and impact on global risks, because the evolution of new technologies will be heavily influenced by the social norms, corporate policies, industry standards and regulatory principles being debated and written today. 38 Unfortunately, however, current legal, policy-making and standard-setting institutions tend to move slowly. How best to strike this balance is currently causing debate, for example, in efforts to accelerate the regulation of self-driving vehicles.