Oct 19 2015 - 16:26 — VIA GES News
Selected Solution Proposal
Fostering Values — The World Needs More Altruism to Fight Crises
Improving the mental health of citizens can help mitigate economic and environmental crises, growing rates of stress and depression, and the adverse effects of individualism and egoism, according to Singer. Rather than a redesign of institutions or rules, she advocates a science-based training program to help each individual.
Singer argues training is needed because many social and economic problems are becoming more global. It would help citizens broaden their domain of altruism, strengthening co-operation and limiting conflict as a result. Schools, universities, offices and factories might profit from the introduction of contemplative techniques. These and other social settings could be re-configured to emphasize teamwork and co-operation over competition.
Over nine months, Singer studied the effects of a new, science-based secular mental training program on well-being, brain, health, and behavior. First results suggest that daily training can indeed reduce stress, induce plasticity at brain level, increase pro-social behavior and trust, body awareness, and subjective well-being.
Oct 19 2015 - 15:27 — VIA GES News
Selected Solution Proposal
Migrant Crisis — The World Needs to Embrace a new Paradigm
Policymakers have to come to terms with the roots of irregular migration in order to embrace a much-needed paradigm shift in dealing with the problem, argues Swing. Only by accepting the economic and social drivers, the demand for migrant workers, and the effects of global communications can they get ahead of the curve.
What Swing calls the largest migration of people in recorded history should, he says, remind us of how important mobility has become to the modern world. By accepting to this fact, host countries can transcend the crisis mode in which they find themselves to develop longer-term strategies in co-operation with other governments.
Swing stresses that only a truly comprehensive approach stands any chance of succeeding in the long run. Governments will have to continue to offer protection to refugees. But at the same time, new ways must be found to ensure safe regular migration – for workers of all skill levels, as well as for families looking to re-unite. In poor or war-torn countries, community stabilization and development programs would reduce migratory pressures.
Oct 19 2015 - 14:45 — VIA GES News
Selected Solution Proposal
Macroeconomic Indicators — Venturing Beyond GDP to Measure Wellbeing
Despite a growing international consensus that gross domestic product is too crude a measure of a country’s national wellbeing, alternatives are having trouble establishing themselves, according to Michaelson and Jeffrey. This is because they lack a clear narrative, suffer from information overload, or fail to match public perceptions.
In the hope of changing the mindset of the UK’s Office for National Statistics (ONS), Michaelsen and Jeffrey looked at measures of national success used in recent public consultations. They came up with five headline indicators they say will provide a better measure of national success than GDP: decently paid, secure employment; subjective wellbeing; environmental impact; economic inequality; and health-care provision.
A handful of clear, communicable, and memorable indicators allow for a close alignment of policymakers’ priorities and the concerns of the public, they argue. Although the number and mix of indicators will vary from country to country, Michaelson and Jeffrey argue only similar efforts elsewhere will spur policymakers to adapt.
Oct 19 2015 - 12:10 — VIA GES News
Doing scientific work, not only going on Google
The YES! – Young Economic Summit opens doors and sets a stage for new and creative ideas of the next generation. High school students concern themselves with global problems in the realm of economy, policy, society and environment. After working intensely on the chosen topic, students presented their solutions at a two-day conference to the interested public.
Oct 19 2015 - 12:10 — VIA GES News
Selected Solution Proposal
Food Security — Crop Production: Satellites and Ploughshares
Satellites, computers and new modeling techniques could more than double global crop production, meeting future food and biomass demand without increasing the area of farmland, Mauser, Klepper, Zabel, Hank and Delzeit argue. Enlisting modern technology to improve crop management would automatically raise farm-management standards and spread the use of profit-maximizing crop allocation techniques across the globe.
Mauser et al. say innovation in all three areas could raise farm output by 148 percent points and keep pace with the demand for food and biomass, which is expected to double by 2050. With satellites monitoring the growth of crops and new computer models, farmers will be able to maximize yields while reducing water and fertilizer use.
In the coming years, global agriculture will be transformed into an information business, and trade in agricultural commodities will come to include regions that currently stand apart, they predict. Satellites like the EU’s Copernicus system will provide the backbone for this new degree of “local-yet-global” information flow.
Oct 19 2015 - 11:35 — VIA GES News
Selected Solution Proposal
Migrant Crisis — Note to Europe: Stress Upside of Immigration
Europe needs to change the narrative about the tens of thousands of refugees streaming over its borders, argues Legrain. Instead of using the tools of border protection and policing to cast them as an implicit threat, he says governments should welcome them as an explicit opportunity for reinvigorating their rapidly aging populations.
Young, hard working, taxpaying newcomers would prove a shot in the arm for a European Union with its shrinking working-age population. With new arrivals this year amounting to 0.1 percent of the EU population, Legrain says it is wrong to cast the region as overburdened. Instead, governments should stress the upside of aspirational and often highly skilled newcomers. Nearly one in two Silicon Valley start-ups has an immigrant co-founder, he notes.
Once European countries see immigration in terms of their economic self-interest, Legrain argues, the strains and stresses of the EU’s current response to the refugee crisis should resolve themselves. Member states would see welcoming migrants as an investment – one that pays dividends the sooner refugees can start to work.
Oct 16 2015 - 16:30 — VIA GES News
Economics beyond Homo Oeconomicus – Why the GES is different
Nobel Laureate George Akerlof, the President of the GES and of the Kiel Institute, Dennis Snower, and other participants of the GES about the questions: What makes the Symposium so special? And what can economics contribute to solve our global problems?
Oct 16 2015 - 16:00 — VIA GES News
Selected Solution Proposal
Recycling — The Circular Economy: The Producer Pays
Manufacturers should pay an up-front fee to cover recycling costs when their products are thrown away, according to Hermann F. Erdmann. This would for the first time give producers and consumers an economic - rather than simply an ethical - incentive to manufacture and consume responsibly, he argues.
Voluntary schemes to prevent waste have proved of limited use, mainly because they have failed to ensure that everyone contributes their fair share. Instead, Erdmann calls for the founding of an independent national or supra-national agency to assess – and charge for - the social costs of products once they are thrown in the trash.
The Extended Producer Responsibility Organization (EPRO) would charge the manufacturer a fee per unit product and take responsibility for recycling. Being forced to pay for the hidden social cost of waste management would encourage manufacturers to design and consumers to buy products that are easier to recycle, he says. While EPRO’s basic structure is simple, agreeing governance and fees could be a challenge, Erdman admits.
Oct 15 2015 - 15:04 - VIA BLOG
A New Deal for Europe?
The EFSI - also known as the Juncker Plan - is meant to boost investment in Europe. But there are grave doubts concerning the EU Commission’s analysis and chosen instruments. The discussion at the GES sought to tackle this problem. In the end, 2015 GES attendees came up with a number of solutions of their own.
Oct 15 2015 - 15:50 — VIA Twitter
We succeeded in making most human beings literate,
now we have to succeed in making human beings compassionate?",
says D. Snower #gesym15
Oct 15 2015 - 15:05 - VIA BLOG
Values to Guide Economies
The crisis of 2008 was not only an economic one, it was also a crisis of values. Caused by rampant self-interest and an obsession with profit maximization, we witnessed the near-collapse of the international financial system. In the hope of righting these wrongs, the motto of this year’s Global Economic Symposium is “Values to Guide Economies.” We have spoken with two GES guests, who have clear ideas on how to establish new values in the world economy.
Oct 15 - 13:50 — VIA GES News
GES Declaration on Common Values Signed
Major representatives of world religions and value-driven movements have signed the GES Declaration of Common Values at the Global Economic Symposium 2015. It seeks to articulate a common set of values that transcends cultural, national and religious borders.
Oct 14 2015 - 18:50 — VIA GES News
GES Media Release: Global Economic Symposium: “Nations Must Co-operate More“
The eighth GES under the slogan "Values to Guide Economies" is coming to an end. Around 300 participants and 100 speakers discussed solutions to global problems. They came up with about 60 concrete proposals – including some to ease the refugee crisis and stabilize the financial system – that will be circulated among decision-makers in business and politics.
Oct 14 - 18:30 — VIA GES News
Members of the GES community have come up with many excellent proposals to address global challenges. We published some of them as “Solution Proposals of the Day” and used them as touchstones for lively debate in and beyond the conference’s 30 or more sessions. We are using this newsletter to bundle some of the texts. But rest assured that all proposals will be evaluated, and published in a variety of formats. To speed implementation, they will also be circulated to policy-making and research communities around the world. Thank you for attending the GES 2015. And thank you for contributing to the search for solutions to shared global problems.
Oct 14 2015 - 18:00 — VIA Twitter
I found the debate on 'job creation in the age robots' inspiring!
A bit worried abt erosion in the tax base, so have to tax robots #gesym15
Oct 14 2015 - 17:40 - VIA BLOG
The Design of Fiscal Consolidation Plans
Governments worldwide are still struggling with the aftermath of the global fincancial crisis. The biggest problems: Budget deficits and debts. The Global Economic Symposium debates how fiscal consolidation plans should be designed. Raising the wrong taxes or cutting government expenditure could be dangerous for the economy. And what about expensive pension systems? Two speakers of this session present their proposals for this problem, OECD-director Christian Kastrop and Hans-Paul Bürkner, Global Chairman at The Boston Consulting Group.
Oct 14 2015 - 17:10 — VIA GES News
GES Media Release: Understanding of Values Influences our Economy
Understanding differences in values is key to solve global economic problems according to scientists and decision makers attending the various panels at the GES. This should include the ability to look at things from different perspectives and the ability to understand each other's point of view.
Oct 14 2015 - 16:30 — VIA GES News
Solution Proposal of the Day #5
Sustainable Cities — Urbanization Demands Public-Private Schemes
The number of people living in cities is expected rise by a third by 2050, but governments have proved incapable of creating the necessary infrastructure to keep pace with this development, say Macomber, Singham and Ting. They argue only public-private partnerships can generate the investment needed to house 2 billion new city-dwellers and provide public services like water, electricity, and mass transportation over the longer term.
So-called enterprise cities would foster orderly growth of urban areas, avoiding the unplanned sprawl of many existing cities in which unregulated land use has hindered adequate provision of infrastructure, and planning for housing and education. Such township planning can be seen an extension of traditional office-park development.
Inspired by examples across the globe, Macomber, Singham and Ting argue that streamlining regulations, transparent tendering, and fair competition is key to success. Crucially, so-called regulatory framework agreements to attract investment should be agreed at municipal level to avoid the pitfalls of national politics.
Oct 14 2015 - 15:10 — VIA Blog
Challenges of Migration
War and terrorism has driven millions of people from their home countries in the Middle East and beyond. As more and more of these refugees try to find refuge in the EU, European states should be rising to the challenge. Sadly, only some governments have shown any readiness to welcome refugees. This problem can only be solved if EU member states overcome their disagreement about distributing the burden of housing the new arrivals. Only if Europe’s nations work together can they deal with their greatest challenge since the Second World War.
Oct 14 2015 - 14:30 — VIA GES News
Solution Proposal of the Day #4
Digital Journalism — A Fund to Kick-start Pan-European Media
Public responses to recent European crises have varied widely from one member country to another, a stark reminder that a truly European public sphere remains elusive, according to Müller. To address this problem, he argues, Europe needs public funding to foster pan-European media with a genuine cross-border appeal.
Müller says subsidies are needed to deal with the paradox of digitization – more people consuming more news than ever before, even as free access weakens the ability of news organizations to fund their work. This, he says, is a particular problem for media in the European Union, given the expense of gathering news across the region.
Given the risk of political pressure, Müller calls for a fund financed by public stakeholders like industry associations and labor unions, rather than governments. A team of independent media experts would decide how to allocate the fund’s resources. The committee would select private media companies according to their journalistic track records and organizational ability to report pan-European news free of national agendas.
Oct 14 2015 - 14:15 — VIA GES News
GES Media Release: Global Economic Symposium Calls on Europeans to Embrace Migrants
One of the most anticipated topics at the Global Economic Symposium (GES) 2015 was migration and the multitude of issues it has thrown up – like dealing with integration, labor migration, refugee crises, and different cultures and values. In particular, the question about how to handle different values and whether it is necessary to teach migrants values like democracy or gender equality fostered the debate.
Oct 14 2015 - 11:40 — VIA GES News
GES Media Release: Şimşek Pledges More Reforms in Turkey at GES 2015
Turkish Finance Minister Mehmet Şimşek used an appearance at the Global Economic Symposium in Kiel to pledge more reforms after next month’s parliamentary election. After hosting the GES in 2010, Şimşek said he was delighted that Istanbul would be welcoming the conference again next year.
Oct 12 2015 - 10:27 - VIA BLOG
Chances of Migration
Integrating refugees into the labor market is a big challenge. There are many formal barriers, for one. Refugees without asylum won’t be assigned a German language course and can’t work for the first months after their arrival. Such restrictions seem petty given the demographic shifts brought by Germany’s aging population. Most of the refugees are young and could do the blue-collar jobs that Europeans spurn. Experts are convinced that refugees are a great opportunity for the economy.
Oct 14 2015 - 08:35 — VIA BLOG
Entrepreneurship as leverage for legal migration
The challenges for entrepreneurship in the migrant source countries are even more discouraging than in the developed countries, given the lengthy bureaucratic processes and the high startup costs usually involved, says Kebba-Omar Jagne, GES Young Fellows 2015. Also many working age youth are simply not prepared to succeed as entrepreneurs due to a several reasons including poor grade school education and lack of basic skills. Although conflict countries might not be able to provide such options, refugees and migrants might consider the funds intended for continuing on a crossing where life is not certain, for investment into something that improves their skills.
Oct 13 2015 - 18:40 — VIA GES News
Solution Proposal of the Day #3
Sustainable Development — Food, Water, Energy: Key to Everything Else
The global community should focus on bringing food, water and energy production to the world’s vast arid regions as a precondition for meeting the United Nations’ much broader Sustainable Development Goals (SDGs), according to Christian Berg. He says this narrow focus would be the best way to minimize painful trade-offs between economic growth and environmental protection implicit in the SDGs, expected to be finalized next spring.
Bringing plant-life back to eroded land would lure farmers and allow crop production to rise while ending the land consumption that sees fertile natural habitats turned into farmland, Berg argues. Setting up solar or wind power plants in these often sunny and breezy regions would lure manufacturing and spur infrastructure development.
Berg reckons this focus on three “foundational SDGs” could quickly improve conditions in arid regions, some 41 percent of the earth’s terrestrial surface. It would also put the global community on course to addressing half of the UN’s 17 SDG goals, including the top two on the list - poverty reduction and food security.
Oct 13 - 18:20 — VIA GES News
Snower: A European Civic Year for more Integration
At the Global Economic Symposium 2015 in Kiel, Dennis Snower, the president of the Kiel Institute, called for a European voluntary social year. The „@Home in Europe Year“ would help foster a common set of European values – and at the same time make an important contribution to resolve the current refugee crisis.
Oct 13 2015 - 17:55 — VIA GES News
GES Media Release: Global Economic Symposium Warns About Debt Levels
Almost a decade after the start of global financial crisis, participants of the Global Economics Symposium warned the world economy was still too reliant on debt. But economists and policy experts at the meeting also praised efforts to counter reckless borrowing.
Oct 13 2015 - 15:55 — VIA Twitter
Oct 13 2015 - 15:00 — VIA GES News
Solution Proposal of the Day #2
Migrant Crisis — Fixing Europe’s Dysfunctional Asylum System
Europe’s governments should end dysfunctional national asylum policies by giving the European Union sole responsibility for the tens of thousands of migrants entering the region, argues Lücke. That would ease the strain on poorer southern EU countries through which migrants enter and richer northern countries where they collect.
Centralized responsibility for the processing and welfare of migrants would in Lücke’s view end the mismatch between the much-vaunted freedom of movement in the EU’s Schengen area and the so-called Dublin III Regulation, which demands that asylum seekers be administered by the member states in which they first set foot. It would enable joint responsibility, common standards, and real burden-sharing among EU members.
With around 1.5 million migrants – mainly from the Middle East and Africa - entering the EU every year, Lücke estimates the EU would need national governments to top up its annual budget by E45 billion. That would be equivalent to one third of the current EU budget, but only 0.3 percent of member states’ gross domestic product.
Oct 13 2015 - 12:00 — VIA GES News
Solution Proposal of the Day #1
Fiscal Consolidation — Austerity and Growth can go Hand in Hand
Critics of the Eurozone response to the currency bloc’s debt crisis have questioned so-called austerity policies to shore up public budgets. But Kastrop argues that economic growth can – and must – go hand in hand with fiscal consolidation. The trick, he argues, is to design spending cuts and tax increases with care and flexibility.
The OECD studied the effects of cutting various types of public spending and increasing various forms of taxation, Kastrop says. It found cutting subsidies and pensions, as well as raising inheritance taxes to be the least harmful to economic growth. Most harmful were education and health care cuts, and raising social security contributions.
But, Kastrop stresses, policymakers should avoid one-size-fits-all solutions and favor bespoke recipes that reflect a country’s position and preferences. For example, raising taxes that are already very high can have little economic or social value. Policymakers should also allow policies to evolve – tax increases are easy to implement quickly but should give way to spending cuts over time. Lastly, they should set prudent long-term debt targets.
Oct 13 2015 - 09:55 — VIA Twitter
Oct 13 2015 - 09:30 — VIA BLOG
We are Humans, no Beasts
The paradox of our time is obvious: food production is more than ever before, but hunger in the world is more than ever before as well; peace proclamations are more than ever before, but wars in the world are more than ever before as well, says Mustafa Cerić, Grand Mufti Emeritus of Bosnia and speaker in the session tonight (Oct. 13): Religious Values and our Economic Behavior.
Yes, indeed, we desperately need help because we are becoming helpless and hopeless, he tells.
Oct 13 - 09:00 — VIA GES News
Dennis Snower’s Opening Address of the Global Economic Symposium 2015
Dennis Snower, President of the Global Economic Symposium and of the Kiel Institute for the World Economy, emphasized in his opening address of the GES 2015 the need for common global values to solve the problems of our time.
Oct 12, 2015 - 20:15 — VIA Twitter
Financial system, UN MDGs & STGs are hot topics today at
Global Economic Symposium 2015 #gesym15
Oct 12 -17.30 — VIA GES News
GES 2016 will be held in Istanbul, Turkey
The Global Economic Symposium 2016 will be held in Istanbul, Turkey. This was announced on the occasion of the opening of the GES 2015 in Kiel.
The Global Economic Symposium 2016 will be held in Istanbul, Turkey, on 25-27 October 2016. This was announced by Dennis Snower, President of the GES and of the Kiel Institute for the World Economy (IfW), the organzier of the GES.
“In view of Turkey's Presidency of the G20 in 2015, which will be followed by that of China in 2016, and of Germany in 2017, this is indeed a significant and exciting prospect”, Snower said. “This will give GES participants the chance to review the implementation of Turkey's proposals for the G20, link them to China’s G20 agenda, so as to make recommendations on the matters that Germany might address in 2017.”
Oct 12 - 17:15 — VIA Twitter
Oct 12 - 17:00 — VIA GES News
GES Media Release: Global Economic Symposium seeks common global values
What can be done to solve Europe’s refugee crisis? How can the Eurozone finally be put on a solid footing? These are just two of the questions that 300 international politicians, scientists, business executives and members of civil society will be looking to answer at the Global Economic Symposium (GES), beginning in Kiel on Monday, 12 October 2015. Participants include Economics Nobel Prize Laureate George Akerlof from the USA, Turkish Finance Minister Mehmet Şimşek and Deutsche Bundesbank Deputy Governor Claudia Buch.
Oct 12 - 15:00 — VIA Twitter
Oct 12 - 14:55 — VIA GES News
Dealing with Urbanization: One size doesn’t fit all.
Interview on the challenges of urban development with Professor Cindy Fan, Vice Provost for International Studies and Global Engagement at the University of California Los Angeles, and a featured speaker at the GES.
Oct 12 2015 -10:20 — VIA BLOG
How to solve Europes Problems - A Question of Identity
“The time has come to decide the future of the European Union”, says Dennis Snower, President of the GES and the Kiel Institute. For him, the real challenge is not just to work out the most efficient economic solution or the most persuasive political one, but to find a new narrative for the European Union, one that will give its inhabitants a new sense of identity and purpose.
Oct 9 2015 - 14:30 — VIA Twitter
Oct 9 2015 - 07:45 — VIA GES News
GES Speaker 2015:
We are Pleased to Welcome Alexander Likhotal
Alexander Likhotal has worked with Mikhail Gorbachev as his spokesman and advisor since 1991. He is an internationally renowned expert on Russia and Eastern Europe and lectures at the University of Boston on the cultural and political implications of business management.
Likhotal will be speaking at the session entitled “Human Dignity, Common Good and Stewardship as Values for Economies.”
Oct 8 2015 - 13:30 — VIA BLOG
Huge welfare losses by expansionary monetary policy
Expansionary monetary policy during financial crises is initially useful, but subsequently largely ineffective. These are the exclusive findings of researchers of the Kiel Institute. Their findings will also be discussed in the session: ‘Monetary Policy - Lessons Learned from the Crisis and the Post-Crisis Period’.
If central banks do not take this into consideration their policies may lead to huge welfare losses.
Oct 8 2015 - 11:15 — VIA Twitter
Oct 7 2015 - 6:45 — VIA GES News
GES Speaker 2015:
We are Pleased to Welcome Edward Lazear
Edward Lazear, Professor of Human Resources Management and Economics at Stanford University, was chairman of the Council of Economic Advisers under US President George W. Bush. He is the author of an extensive body of research and founding editor of the Journal of Labor Economics.
Oct 6 2015 - 23:15 — VIA Twitter
Oct 4 2015 - 11:45 — VIA GES News
GES Speaker 2015:
We are Pleased to Welcome Pascal Lamy
Pascal Lamy led the World Trade Organization as Director-General for eight years, from 2005 to 2013. He was European Commissioner for Trade from 1999 to 2004. Today, Lamy is honorary president of the Paris-based think tank Notre Europe.
He will be speaking at the session entitled “Developing Modern Sustainable Industrial Policies through Co-opetition.”
Oct 4 2015 - 10:15 — VIA BLOG
Creating Community: Social Media, a Tool for Integration
The current Europe-wide influx of migrants has undeniably sparked anti-foreigner sentiments across the entire continent. In Brussels, record numbers of incoming refugees are adding to the city’s already large pre-existing foreign-born population.
Now, more than ever, we need a solution to ensure the successful integration between foreigners and locals. Btogether.be, a social networking site aiming to connect foreigners and locals in Brussels, will foster communication and interaction between various demographics, thus ensuring a happy, helpful community.
Oct 1 2015 - 16:00 — VIA GES News
GES Speaker 2015:
We are Pleased to Welcome Hans-Paul Bürkner
Hans-Paul Bürkner, Chairman of the Boston Consulting Group, is a former president and CEO of BCG and the first European to hold both positions.
Bürkner has studied numerous subjects, including economics, business administration, and Chinese, at various universities, including Yale and Oxford. He is also a well-known expert on emerging markets.
Bürkner will be speaking in the session entitled “Job Creation in the Age of Robots”.
Sep 29 2015 - 14:30 — VIA Twitter
Sep 28 2015 - 10:25 - VIA BLOG
“It´s an economic disaster”
Interview with Kristine and Douglas Tompkins, founders of Esprit and The North Face, now creators of national parks in South America, on the 2015 GES motto: Values to Guide Economies.
Saving nature or doing business – that’s a common conflict of values the world over. “People talk about the great goodness of economic development over time, but in fact it’s an economic disaster”, they say.
Sep 23 2015 - 16:29 — VIA Twitter
Sep 21 - 11:30 — VIA BLOG
Desert2Eden – how the SDGs can be met
There are seventeen sustainable development goals (SDGs). Pretty ambitious, and even more so because they are not only related, they sometimes compete with each other. So where to start? “Focus on the basic needs of human existence: food, water, and energy. If we secure these three factors, then we can achieve the other SDGs”, says Christian Berg, speaker at the Session: Putting the SDGs to Work
The good news: there are regions where abundant land, energy, and water lie unused: deserts.
Sep 19 2015 - 14:25 — VIA Twitter