Open AccessNarrowing the Global Gap: Eco-Social Market Economy as New Perspective to Deal with Global Economic Inequality and Economic Insecurity in 21st Century
Author(s) -
Reza A.A Wattimena,
Anak Agung Banyu Perwita
Publication year - 2017
Publication title -
andalas journal of international studies
Language(s) - English
Resource type - Journals
eISSN - 2355-9500
pISSN - 2301-8208
DOI - 10.25077/ajis.6.1.1-16.2017
Subject(s) - poverty , social inequality , inequality , economic security , economics , development economics , economic inequality , terrorism , economic system , political science , economic growth , mathematical analysis , mathematics , law
Global economic inequality, namely the economic inequality between various countries and regions, is one of the biggest challenges of 21st century. Thus, it has also become an important issue in economic security. It creates extreme poverty in the face of abundant living in several rich countries and regions. It is also the root of other global problems, such as human trafficking, spreads of slums, diseases, and international network of radicalism, extremism and terrorism. Because of the global scope, the world needs to develop new perspective in combating global economic inequality and its negative consequences. Eco-social market economy, which is developed from the German social theories, can offer such perspective. It balances between two important areas of social life, namely social justice on the one hand, and ecological awareness of the other hand. This paper elaborates the basic notions and implementations of eco-social market economy in global level to overcome the issue of global economic inequality in 21st century as a new perspective in addressing the issue of economic insecurity in our current global economic, political and security interactions.