The Brandt Equation: 21st Century Blueprint for the New Global Economy
–Willy Brandt, 1983
Two decades ago, the Brandt Commission reports, North-South and Common Crisis offered the international community a forward-looking plan for balancing the creation of wealth with the provision of public goods and the preservation of the environment.
These measures would enable developing nations to become equal trading partners with developed nations, thereby raising global demand for goods and services and reducing world unemployment.
In 1980, seven years before the publication of the Brundtland Report Our Common Future, the Brandt Commission proposed "that in the long run countries have to strengthen their capability to sustain development through structural transformation" (North-South, 63), and called for "an orderly transition from a world economy and industry based on oil, to one that can be sustained through renewable sources of energy" (N-S, 169). "Our survival," declared Brandt, "depends not only on military balance, but on global cooperation to ensure a sustainable biological environment, and sustainable prosperity based on equitably shared resources" (N-S, 124).
Although the Brandt Commission identified and linked together the major global development issues, it took twenty years for the world community to quantify them. The Millennium Development Goals, generated by the United Nations in 2000, now provide specific, measurable targets for international development. But there is little in the Millennium Development Goals that the Brandt Report had not already proposed, however broadly.
The Brandt Equation calls for a full-scale reordering of global priorities to meet humanity's interrelated economic problems and development needs. It is a blueprint for the twenty-first century economy, a definite course of action to renew the foundations of money and commerce, allowing global economic policies, structures and systems to serve the public interest, instead of people and their environment serving globalization.
Sources of information for The Brandt Equation are the Brandt Reports,
the report of the Independent Commission on Global Governance,
World Bank and International Monetary Fund papers,
United Nations Development Program reports, OECD surveys,
Bank for International Settlements documents,
and US Labor Department and Federal Reserve data.
The Brandt Equation © 2002-2007 by James Bernard Quilligan.