The Challenge Of Progress

Globalization has accelerated the process of social, political, cultural, and especially economic transformations since the 1990s. Examining the choices of modern society, Dahms and contributors ask: what are the social costs of “progress”?

This text presents Alfred Marshall’s final, unfinished, and unpublished book. His main volume, Principles of Economics, was first published in 1890, and was, for a long period of time, the textbook par excellence on which generations of economists were trained. Despite its success and its importance, the book, in its eight editions, testifies to some extent to the failure of Marshall’s original editorial project which should have consisted of multiple volumes and culminated with the publication of a final work on economic progress. Marshall’s death in 1924 made it impossible to realize his project, but many notes written for it have survived. These notes, collected here, constitute a fundamental element in fully understanding the thought and perspectives of this great economist and in appreciating his great modernity and wisdom.

The individual account-based but unfunded approach to mandated public pension systems is a reform benchmark for all pension schemes, promising fair and financially sustainable benefits. Nonfinancial defined contribution (NDC) pension schemes originated in Italy and Sweden in the 1990s, were then adopted by Latvia, Norway, and Poland, envisaged but not implemented in various other countries, such as Egypt and Russia, and remain under discussion in many nations around the world, such as China and France. In its complete form, the approach also comprises budget-financed basic income provisions and mandated or voluntary funded provisions. Volume 1 of this book offers an assessment of countries that were early adopters before addressing key aspects of policy implementation and design review, including how best to combine basic income provisions with an NDC scheme, how to deal with heterogeneity in longevity, and how to adjust NDC scheme design and labor market policies to deliver on reform expectations. Volume 2 addresses a second set of issues, including the gender pension gap and what family policies can do about it within the NDC framework, labor market issues and administrative challenges of NDC schemes and how countries are coping, the role of communication in these pension schemes, the complexity of cross-border pension taxation, and much more. Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes is the third in a series of books analyzing the progress, challenges, and adjustment options of this reform revolution for mandated public pension systems. 'Pension reform is a major issue in many countries. The development of the nonfinancial defined contribution pension plan in the 90's was a major advance in pension design. By reporting actual country experiences and exploring properties of plan designs, this latest collection of essays is a valuable contribution, well worth reading.' Peter Diamond Professor at Massachusetts Institute of Technology; 2010 winner of the Nobel Memorial Prize in Economic Sciences 'A highly stimulating publication for policy makers and researchers alike. It pushes the analytical frontier for policy challenges that all public pension schemes are confronted with but that the nonfinancial defined contribution approach promises to handle best.' Noriyuki Takayama President, Research Institute for Policies on Pension and Aging, Tokyo, and professor emeritus, Hitotsubashi University, Tokyo 'In a changing world where pensions are more than ever linked to labor markets, communication tools, and flexibility considerations, this anthology provides a unique up-to-date analysis of nonfinancial defined contribution pension schemes. By mixing international experiences and theoretical studies, it demonstrates the high adaptability of such pension schemes to changing social challenges.' Pierre Devolder Professor of Finance and Actuarial Sciences, Catholic University of Louvain, Belgium

This book addresses the current challenges of sustainable development, including its social, economic and environmental components. The author argues that we need to develop a new concept of time based on inter-generational solidarity, which focuses both on the long- and the short term. The evolution of man's notions of time are analyzed from prehistory to modern times, showing how these concepts shape our worldviews, our ecological paradigms and our equilibrium with our planet. Practical approaches to dealing with the major medium- and long term sustainability challenges of the 21st century are presented and discussed. This is a thought provoking and timely book that addresses the main global socioeconomic and environmental challenges facing the current and future generations, using science-based analysis and perspectives. It presents an historical narrative of the advent of progress, economic growth and technology, and discusses the structural changes needed to co-create sustainable pathways. It provides hope for our future on Earth, mankind’s common home. António Guterres, Secretary-General of the United Nations This is an amazing, almost mind-boggling book. The author takes a look at the true whole, i.e., the development of the human enterprise since its very beginning. This enterprise is evidently a possibility under the boundary conditions of cosmological dynamics and natural evolution, but evidently also a highly improbable one. It is all but a miracle that the Earth system in its present form exists and happens to support a technical civilization. Will this civilization last long, will it transform itself into something even more exceptional, or will it perish in disgrace? Santos dares to address these grandest of all questions, equipped with a unique transdisciplinary wisdom drawing on physics, cybernetics, geology, biology, economics, anthropology, history, and philosophy. And he dares to dive into the deepest abysses of thinking, where categorial monsters like time and progress lurk. Thereby, he takes us on fascinating journey, during which we perceive and grasp things we have never seen and understood before. One of the best essays I have ever read. John Schellnhuber, founding director of the Potsdam Institute for Climate Impact Research (PIK) and former chair of the German Advisory Council on Global Change