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Debate the Issues: New Approaches to Economic Challenges

image of Debate the Issues: New Approaches to Economic Challenges

To capitalise on the new international resolve epitomised by COP21 and the agreement on the universal Sustainable Development Goals (SDGs) requires a renewed effort to promote new policy thinking and new approaches to the great challenges ahead. Responding to new challenges means we have to adopt more ambitious frameworks, design more effective tools, and propose more precise policies that will take account of the complex and multidimensional nature of the challenges. The goal is to develop a better sense of how economies really work and to articulate strategies which reflect this understanding. The OECD’s New Approaches to Economic Challenges (NAEC) exercise challenges our assumptions and our understanding about the workings of the economy. This collection from OECD Insights summarises opinions from inside and outside the Organisation on how NAEC can contribute to achieving the SDGs, and describes how the OECD is placing its statistical, monitoring and analytical capacities at the service of the international community. The authors also consider the transformation of the world economy that will be needed and the long-term “tectonic shifts” that are affecting people, the planet, global productivity, and institutions.

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A policy pathfinder for the Sustainable Development Goals

At one time, I might have said that sustainable development is in the OECD’s blood, but biological metaphors have made enormous progress over the past few years and now I’d say it’s in the Organisation’s DNA. The OECD Convention, signed in December 1960, talks about the signatory countries’ determination to: “promote the highest sustainable growth of their economies and improve the economic and social well-being of their peoples”. This commitment has been reaffirmed regularly, in 2013, for example, when the strategic role of the OECD was defined as helping to achieve a resilient economy, inclusive society, and sustainable environment.

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