The path towards economic growth and climate justice must be tackled by one united world, according to renowned economist Dr Jomo Sundaram.
Dr Jomo was presented with an Honorary Doctor of Letters at Murdoch University’s Graduation Ceremony in Singapore on October 29.
“With the breakdown of the post-war, post-colonial and Cold War consensus, a new global social compact is clearly needed,” said Dr Jomo.
“The most urgent challenge, for some time to come, must surely be to ensure a strong, sustained and inclusive recovery.
“We know there is no way to eliminate poverty without creating full and decent employment.
“And only through sustainable development, with common, but differentiated responsibility, can we seriously hope to mitigate and adapt to climate change while ensuring justice for all.
“After three decades of globalisation, and with the resource, environmental and climate threats nearing tipping point, what we urgently need today is nothing less than a Global Green New Deal.”
Dr Jomo warned students graduating from Murdoch University of the dangers of prolonged global economic stagnation and said the innovations of their generation such as social entrepreneurship may provide a way to create a united world.
Dr Jomo is the Assistant Director-General, Economic and Social Development at the Food and Agriculture Organization of the United Nations and an honorary Research Coordinator for the G24 Intergovernmental Group on International Monetary Affairs and Development.
During 2008 and 2009, he served as adviser to the President of the 63rd United Nations General Assembly, and as a member of the [Stiglitz] Commission of Experts of the President of the United Nations General Assembly on Reforms of the International Monetary and Financial System.
He was also on the Board of the United Nations Research Institute on Social Development (UNRISD), Geneva (2002-2004).
Dr Jomo has authored more than 35 monographs, edited over 50 books and translated 12 volumes besides writing many academic papers and articles for the media. He is on the editorial boards of several learned journals.
In 2007, he was awarded the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought.