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The Future of Foreign Aid in a Globalizing World with Climate Change
Author(s) -
Hübler Michael
Publication year - 2017
Publication title -
global policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.602
H-Index - 33
eISSN - 1758-5899
pISSN - 1758-5880
DOI - 10.1111/1758-5899.12351
Subject(s) - multinational corporation , foreign direct investment , investment (military) , business , economics , socioeconomic development , economic system , dimension (graph theory) , economic growth , political science , finance , politics , macroeconomics , law , mathematics , pure mathematics
This essay discusses a forward‐looking integrated policy concept of foreign aid in a globalizing world with climate change. First, it opts for an integrated treatment of short‐term aid, striving for the urgent fulfillment of basic human needs, and long‐term aid, striving for socioeconomic development and self‐dependence. It opts for an integrated treatment of the human‐society‐economy dimension and the biodiversity‐nature‐earth dimension as well. Second, it proposes a “global insurance for survival” fulfilling basic needs. Besides, it advocates a strong role of (multinational) enterprises and foreign direct investment in socioeconomic development to promote investment and technology diffusion. Firms' activities should be backed up and regulated by a reliable global legal framework. Third, it suggests financing foreign aid via a globally unified tax to foster global justice. As a novel suggestion, the allocation of aid project funding occurs on a market base with the help of a certificate trading scheme to foster efficiency.