The overarching goal at the Rio+20 summit must be achieving sustainable prosperity for all. What new agreements and institutions are needed to address these issues and to move toward sustainable prosperity? The situation we face today is so dire that we should consider new initiatives in the context of a fundamentally different approach to economic life.
In short, what the world needs is a new economic paradigm.
Our current system of political economy is at the root of many world problems, and hope of long-term progress hinges on a shift to a new system of political economy. As the slogan goes, we need “system change, not climate change.”