2012, ISBN: 9788171887309

New Century Publications, 2012. Hardcover. New. Fiscal federalism deals with financial arrangements and their working in a federal polity. In India, federalism is not only a unifying bu… Plus…

New Century Publications, 2012. Hardcover. New. Fiscal federalism deals with financial arrangements and their working in a federal polity. In India, federalism is not only a unifying but also a levelling up force because considerable economic inequalities exist among different States of India. This work provides broad contours?including historical evolution?of fiscal relations between the Central and State Governments in India. It explains operational aspects of fiscal federalism in India. More importantly, it empirically examines the effects of federal transfers on tax efforts of 14 major Indian States, viz. Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Orissa, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh and West Bengal. The analysis has been done in the context of the use of tax effort as a criterion for inter-se distribution of States? share of Central revenues by various Finance Commissions. The book provides an in-depth understanding of the two vital concepts of tax effort and tax capacity and the alternative quantitative techniques that can be employed to estimate them. CONTENTS CONTENTS 1. Indian Fiscal Federalism: An Introduction ? Evolution of Fiscal Federalism in India; Finance Commissions of India; Fiscal Decentralisation Initiatives; From Itemised Sharing to Global Sharing; Restructuring Public Finances; Fiscal Responsibility and Budget Management (FRBM) Act, 2003; Towards National Level Goods and Services Tax (GST); Economic Liberalization and Tax-GDP Ratio; Falling Trade Taxes. 2. Parameters of Fiscal Federalism ? Rationale for Fiscal Federalism; Co-operative versus Competitive Models; Norms for Division of Financial Resources; Instruments of Equalization; Globalisation and Fiscal Federalism. 3. Central-State Fiscal Transfers in India: An Appraisal ? Fiscal Federalism in India; Finance Commission and Resource Transfers; Planning Commission and Resource Transfer under Gadgil Formula; Finance Commission versus Planning Commission; Grants-in-aid and Finance Commission; Centrally Sponsored Schemes; Size of Central Transfers to States; States` Share of Revenue from Income Tax and Excise Duties. 4. Impact of Federal Fiscal Transfers: Conceptual Issues and Empirical Literature ? Impact of Intergovernmental Transfers on Local Government Behaviour: Theoretical Hypotheses; Impact of Intergovernmental Grants in Decentralized System: Second-Generation Theories; Review of Literature. 5. Fiscal Potential and Tax Effort: Meaning and Measurement Issues ? Meaning of Taxable Capacity and Tax Effort; Measuring Fiscal Capacity and Tax Effort; RTS and Aggregate Regression Methods; Representative Tax System: A Critique; Alternative Measure of Fiscal Potential; Estimation of Taxable Capacity and Tax Effort. 6. Tax Performance Function: An Alternative Specification of Tax Capacity and Tax Effort ? Specification of TPF and TCF; Research Methodology; Model Specification: Determinants of Tax Potential; Sources and Transformation of Data; Efficiency in State Taxes. 7. Taxable Capacity Function: Estimation and Application ? Test for Structural Effect; Tax Capacity Function and Normative Approach; Tax Capacity Function and Positive Approach; Epilogue. 8. Allocative Effects of Indian Federal Fiscal Transfers ? Formulation of Issue; Methodology and the Model; Diagnosis of Issue; Synthesis of Empirical Evidence. 9. Findings and Suggestions ? Framework and Findings of the Study; Policy Suggestions. Appendix A: Financial Jurisdiction of Centre and States: Constitutional Provisions under Seventh Schedule; Appendix B: Provisions of the Constitution Having Bearing on the Indian Fiscal Federal Transfers Printed Pages: 302. Fiscal Federalism in India: Impact of Union Transfers on State FinancesPratibha Agarwal9788177082937, New Century Publications, 2012, New Century Publications, 2012. Hardcover. New. Fiscal federalism deals with financial arrangements and their working in a federal polity. In India, federalism is not only a unifying but also a levelling up force because considerable economic inequalities exist among different States of India. This work provides broad contours?including historical evolution?of fiscal relations between the Central and State Governments in India. It explains operational aspects of fiscal federalism in India. More importantly, it empirically examines the effects of federal transfers on tax efforts of 14 major Indian States, viz. Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Orissa, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh and West Bengal. The analysis has been done in the context of the use of tax effort as a criterion for inter-se distribution of States? share of Central revenues by various Finance Commissions. The book provides an in-depth understanding of the two vital concepts of tax effort and tax capacity and the alternative quantitative techniques that can be employed to estimate them. CONTENTS CONTENTS 1. Indian Fiscal Federalism: An Introduction ? Evolution of Fiscal Federalism in India; Finance Commissions of India; Fiscal Decentralisation Initiatives; From Itemised Sharing to Global Sharing; Restructuring Public Finances; Fiscal Responsibility and Budget Management (FRBM) Act, 2003; Towards National Level Goods and Services Tax (GST); Economic Liberalization and Tax-GDP Ratio; Falling Trade Taxes. 2. Parameters of Fiscal Federalism ? Rationale for Fiscal Federalism; Co-operative versus Competitive Models; Norms for Division of Financial Resources; Instruments of Equalization; Globalisation and Fiscal Federalism. 3. Central-State Fiscal Transfers in India: An Appraisal ? Fiscal Federalism in India; Finance Commission and Resource Transfers; Planning Commission and Resource Transfer under Gadgil Formula; Finance Commission versus Planning Commission; Grants-in-aid and Finance Commission; Centrally Sponsored Schemes; Size of Central Transfers to States; States` Share of Revenue from Income Tax and Excise Duties. 4. Impact of Federal Fiscal Transfers: Conceptual Issues and Empirical Literature ? Impact of Intergovernmental Transfers on Local Government Behaviour: Theoretical Hypotheses; Impact of Intergovernmental Grants in Decentralized System: Second-Generation Theories; Review of Literature. 5. Fiscal Potential and Tax Effort: Meaning and Measurement Issues ? Meaning of Taxable Capacity and Tax Effort; Measuring Fiscal Capacity and Tax Effort; RTS and Aggregate Regression Methods; Representative Tax System: A Critique; Alternative Measure of Fiscal Potential; Estimation of Taxable Capacity and Tax Effort. 6. Tax Performance Function: An Alternative Specification of Tax Capacity and Tax Effort ? Specification of TPF and TCF; Research Methodology; Model Specification: Determinants of Tax Potential; Sources and Transformation of Data; Efficiency in State Taxes. 7. Taxable Capacity Function: Estimation and Application ? Test for Structural Effect; Tax Capacity Function and Normative Approach; Tax Capacity Function and Positive Approach; Epilogue. 8. Allocative Effects of Indian Federal Fiscal Transfers ? Formulation of Issue; Methodology and the Model; Diagnosis of Issue; Synthesis of Empirical Evidence. 9. Findings and Suggestions ? Framework and Findings of the Study; Policy Suggestions. Appendix A: Financial Jurisdiction of Centre and States: Constitutional Provisions under Seventh Schedule; Appendix B: Provisions of the Constitution Having Bearing on the Indian Fiscal Federal Transfers Printed Pages: 302., New Century Publications, 2012, Kalpaz Publications/Gyan Books Pvt Ltd, 2005. Hardcover. New. The book contains material published in books and journals by the celebrated author since 1990. In addition book contains articles from other experts and renowned authors. The book attempts at a cosmic whole approach challenging the established international relations theories based upon a Newtonian and cartesian world view from the ecological perspective Contents: Rootsgue I. INTRODUCTION Nature BACK IN INTERNATIONAL RELATION : Nature as Cause of Social Events; Nature Absent in Social Sciences; Nature Deterministic or Puppet?; Geopolitical Theory : Role of Climate in Shaping the fate of Nations; Nature in an Unequal World II. VIOLENT Environmental CONFLICT: A CRITIQUE ON NATIONAL SECURITY : Environmental Security; Environmental Scarcity of Resources; Ecological Marginalisation; Significance of Context; Cropland Scarcity; Deforestation; Water Scarcity; Decline in Fish Stocks; Loss of Biodiversity; Global Wanning; Ozone Layer Depletion; Energy Consumption; Population Growth; Decline in Agricultural Productivity; Economic Decline; Migration; Domestic Cleavages and Social Segmentation; Disrupted Institutions and Growing Weakening of the State; Lack of Ingenuity Supply and Adaptive Failure; Constraints on Supply of Ingenuity; Market Failure; Social Friction; Capital Availability; Constraints on Science; Simple Scarcity Conflict; Group Identity Conflict; Group-identity conflict : Bangladesh Assam Region; Insurgencies; Environmental Scarcity, Relative Deprivation and Tamil Separatism in Sri Lanka; Group Vs Group; Group Vs State; State vs State; Environmental Degradation, Relative Deprivation, Ethnic Conflict in Pakistan; Link Between Urban growth and Violence; Pakistan`s Cities Such as Karachi-An Example of this Linkage III. Politics OF ENVIRONMENTAL SECURITY AND TRAVERSING BEYOND THE WESTPHALIAN THEMATIC : Critique of Liberalism; Ecologicalising Emancipatory Mission; Revisiting Globalist Criticism; A Critique of Orthodox realism; Reformist Criticism of Environmental Security Revisited; Comprehensive Security; Critical Security Studies IV. CRITICAL THEORY : HALF WAY EMANCIPATORY SANS ENVIRONMENTAL Ethics : Environmental Dimension in International Relation; Environmental Security in International Relation; Fissures within Ecological Thought; Social Ecology : Self-empowerment of Community; Reconciliation : End and Means; Realist and Liberal Framework : An Ecological Critique; Critique of Liberalism; Ecologicalising Emancipatory Mission V. LIBERAL DEMOCRACY, Faith IN THE MARKET AND MODE OF LEGITIMATION: RETHINKING TOWARDS Sustainable Development : Politics and Science Sharing the Same Ontological Foundation; Liberal Democratic Foundation : Wealth Production and Inordinate Consumption; Political and Economic Space : Usurpation by the Dominant Class; Economic Space Colonized the Societal Space; Subduing the Earth : Testaments of Development; Market Economy : Chinks in Armoury of Communism; Mechanistic Worldview : Nuisance to Nature; Rightfulness of Liberal Democracy : Questioning Legitimacy; Liberal Democracy Defines Development : Towards Unsustainability; Taking for Granted the Future Generations` Consent : An Ethical Usurpation; Economic Growth and Happiness : Illusive Link; Rethinking Criteria of Legitimacy; Leap of Faith; Relooking at the Ontological Foundation; Globalization : Promoting the Domestic Criteria of Legitimacy to Western Liberal Democracy; Liberal Democratic Market Based Development : A Synonym to Envelopment; Poverty of Philosophy VI. POLITICS OF COMBATING GLOBAL CLIMATE CHANGE : Historical Responsibility; Temperature; Sea-level; Snow Cover; Precipitation; Other Aspects of Climate; Greenhouse Gases; Water; Agriculture and food Security; Human Health; Terrestrial and Freshwater Ecosystem; Coastal Zones and Marine Ecosystems; Human Settlements, Energy and Industry; Insuran Printed Pages: 420., Kalpaz Publications/Gyan Books Pvt Ltd, 2005, Kalpaz Publications/Gyan Books Pvt Ltd, 2005. Hardcover. New. The book contains material published in books and journals by the celebrated author since 1990. In addition book contains articles from other experts and renowned authors. The book attempts at a cosmic whole approach challenging the established international relations theories based upon a Newtonian and cartesian world view from the ecological perspective Contents: Rootsgue I. INTRODUCTION Nature BACK IN INTERNATIONAL RELATION : Nature as Cause of Social Events; Nature Absent in Social Sciences; Nature Deterministic or Puppet?; Geopolitical Theory : Role of Climate in Shaping the fate of Nations; Nature in an Unequal World II. VIOLENT Environmental CONFLICT: A CRITIQUE ON NATIONAL SECURITY : Environmental Security; Environmental Scarcity of Resources; Ecological Marginalisation; Significance of Context; Cropland Scarcity; Deforestation; Water Scarcity; Decline in Fish Stocks; Loss of Biodiversity; Global Wanning; Ozone Layer Depletion; Energy Consumption; Population Growth; Decline in Agricultural Productivity; Economic Decline; Migration; Domestic Cleavages and Social Segmentation; Disrupted Institutions and Growing Weakening of the State; Lack of Ingenuity Supply and Adaptive Failure; Constraints on Supply of Ingenuity; Market Failure; Social Friction; Capital Availability; Constraints on Science; Simple Scarcity Conflict; Group Identity Conflict; Group-identity conflict : Bangladesh Assam Region; Insurgencies; Environmental Scarcity, Relative Deprivation and Tamil Separatism in Sri Lanka; Group Vs Group; Group Vs State; State vs State; Environmental Degradation, Relative Deprivation, Ethnic Conflict in Pakistan; Link Between Urban growth and Violence; Pakistan`s Cities Such as Karachi-An Example of this Linkage III. Politics OF ENVIRONMENTAL SECURITY AND TRAVERSING BEYOND THE WESTPHALIAN THEMATIC : Critique of Liberalism; Ecologicalising Emancipatory Mission; Revisiting Globalist Criticism; A Critique of Orthodox realism; Reformist Criticism of Environmental Security Revisited; Comprehensive Security; Critical Security Studies IV. CRITICAL THEORY : HALF WAY EMANCIPATORY SANS ENVIRONMENTAL Ethics : Environmental Dimension in International Relation; Environmental Security in International Relation; Fissures within Ecological Thought; Social Ecology : Self-empowerment of Community; Reconciliation : End and Means; Realist and Liberal Framework : An Ecological Critique; Critique of Liberalism; Ecologicalising Emancipatory Mission V. LIBERAL DEMOCRACY, Faith IN THE MARKET AND MODE OF LEGITIMATION: RETHINKING TOWARDS Sustainable Development : Politics and Science Sharing the Same Ontological Foundation; Liberal Democratic Foundation : Wealth Production and Inordinate Consumption; Political and Economic Space : Usurpation by the Dominant Class; Economic Space Colonized the Societal Space; Subduing the Earth : Testaments of Development; Market Economy : Chinks in Armoury of Communism; Mechanistic Worldview : Nuisance to Nature; Rightfulness of Liberal Democracy : Questioning Legitimacy; Liberal Democracy Defines Development : Towards Unsustainability; Taking for Granted the Future Generations` Consent : An Ethical Usurpation; Economic Growth and Happiness : Illusive Link; Rethinking Criteria of Legitimacy; Leap of Faith; Relooking at the Ontological Foundation; Globalization : Promoting the Domestic Criteria of Legitimacy to Western Liberal Democracy; Liberal Democratic Market Based Development : A Synonym to Envelopment; Poverty of Philosophy VI. POLITICS OF COMBATING GLOBAL CLIMATE CHANGE : Historical Responsibility; Temperature; Sea-level; Snow Cover; Precipitation; Other Aspects of Climate; Greenhouse Gases; Water; Agriculture and food Security; Human Health; Terrestrial and Freshwater Ecosystem; Coastal Zones and Marine Ecosystems; Human Settlements, Energy and Industry; Insuran Printed Pages: 420. Relevance of Environment: A Critique on International Relation TheoriesNarottam Gaan9788178354118, Kalpaz Publications/Gyan Books Pvt Ltd, 2005, Kalpaz Publications/Gyan Books Pvt Ltd, 2005. Hardcover. New. The book contains material published in books and journals by the celebrated author since 1990. In addition book contains articles from other experts and renowned authors. The book attempts at a cosmic whole approach challenging the established international relations theories based upon a Newtonian and cartesian world view from the ecological perspective Contents: Rootsgue I. INTRODUCTION Nature BACK IN INTERNATIONAL RELATION : Nature as Cause of Social Events; Nature Absent in Social Sciences; Nature Deterministic or Puppet?; Geopolitical Theory : Role of Climate in Shaping the fate of Nations; Nature in an Unequal World II. VIOLENT Environmental CONFLICT: A CRITIQUE ON NATIONAL SECURITY : Environmental Security; Environmental Scarcity of Resources; Ecological Marginalisation; Significance of Context; Cropland Scarcity; Deforestation; Water Scarcity; Decline in Fish Stocks; Loss of Biodiversity; Global Wanning; Ozone Layer Depletion; Energy Consumption; Population Growth; Decline in Agricultural Productivity; Economic Decline; Migration; Domestic Cleavages and Social Segmentation; Disrupted Institutions and Growing Weakening of the State; Lack of Ingenuity Supply and Adaptive Failure; Constraints on Supply of Ingenuity; Market Failure; Social Friction; Capital Availability; Constraints on Science; Simple Scarcity Conflict; Group Identity Conflict; Group-identity conflict : Bangladesh Assam Region; Insurgencies; Environmental Scarcity, Relative Deprivation and Tamil Separatism in Sri Lanka; Group Vs Group; Group Vs State; State vs State; Environmental Degradation, Relative Deprivation, Ethnic Conflict in Pakistan; Link Between Urban growth and Violence; Pakistan`s Cities Such as Karachi-An Example of this Linkage III. Politics OF ENVIRONMENTAL SECURITY AND TRAVERSING BEYOND THE WESTPHALIAN THEMATIC : Critique of Liberalism; Ecologicalising Emancipatory Mission; Revisiting Globalist Criticism; A Critique of Orthodox realism; Reformist Criticism of Environmental Security Revisited; Comprehensive Security; Critical Security Studies IV. CRITICAL THEORY : HALF WAY EMANCIPATORY SANS ENVIRONMENTAL Ethics : Environmental Dimension in International Relation; Environmental Security in International Relation; Fissures within Ecological Thought; Social Ecology : Self-empowerment of Community; Reconciliation : End and Means; Realist and Liberal Framework : An Ecological Critique; Critique of Liberalism; Ecologicalising Emancipatory Mission V. LIBERAL DEMOCRACY, Faith IN THE MARKET AND MODE OF LEGITIMATION: RETHINKING TOWARDS Sustainable Development : Politics and Science Sharing the Same Ontological Foundation; Liberal Democratic Foundation : Wealth Production and Inordinate Consumption; Political and Economic Space : Usurpation by the Dominant Class; Economic Space Colonized the Societal Space; Subduing the Earth : Testaments of Development; Market Economy : Chinks in Armoury of Communism; Mechanistic Worldview : Nuisance to Nature; Rightfulness of Liberal Democracy : Questioning Legitimacy; Liberal Democracy Defines Development : Towards Unsustainability; Taking for Granted the Future Generations` Consent : An Ethical Usurpation; Economic Growth and Happiness : Illusive Link; Rethinking Criteria of Legitimacy; Leap of Faith; Relooking at the Ontological Foundation; Globalization : Promoting the Domestic Criteria of Legitimacy to Western Liberal Democracy; Liberal Democratic Market Based Development : A Synonym to Envelopment; Poverty of Philosophy VI. POLITICS OF COMBATING GLOBAL CLIMATE CHANGE : Historical Responsibility; Temperature; Sea-level; Snow Cover; Precipitation; Other Aspects of Climate; Greenhouse Gases; Water; Agriculture and food Security; Human Health; Terrestrial and Freshwater Ecosystem; Coastal Zones and Marine Ecosystems; Human Settlements, Energy and Industry; Insuran Printed Pages: 420., Kalpaz Publications/Gyan Books Pvt Ltd, 2005, Academic Foundation, 2009. Hardcover. New. Worldwide there is a growing Perception among intellectuals, politicians and citizens, that current global problems and Conflicts cannot be solved by national governments, even not by the most powerful ones. It is also more and more observable that the current multilateral Institutions (UN, World Bank, IMF, WTO, etc.), created in the aftermath of the Second World War to administrate Political Stability and economic prosperity, can no longer deliver in today’s fully informed, much more Democratic and highly interconnected world. Moreover, the pervasive promotion of national democracies across the world-as currently “pursued” by the West-to solve problems of a collective Nature (global public goods and global externalities) is neither a necessary nor a sufficient condition. Indeed, developments in the last decade have proven that at global level, and in crucial areas such as Peace and common security, global environment, etc., a UN led by self-appointed “nationally democratic” arbitrators, cannot deliver. In fact, in such circumstances and following the principle of self-interest, even nationally democratic Countries have often behaved as free-riders in global economic issues, while the most powerful, in absence of balanced political costs, have tended to Abuse the others. In addition, dominant neo-conservative Policies in the last two decades have mostly resulted in worse national and international Income distribution, increased the number of conflicts and tensions across the world, and been incapable of dealing with common-global problems such as climate change. Against the above global political background, the authors, after carefully analysing the foundations of Democracy at national and global levels, the conditions for Sustainability of democracy, and its interconnections with capitalism-be this national or global-propose a complete redesign of the UN system and its economic agencies on a democratic basis. According to the authors, this will finally result in a global democracy for exclusively dealing with global public goods and externalities. A priority target of this reorganisation will be a more balanced and acceptable global distribution of income, as a necessary condition for the Survival of global capitalism. The authors, after carefully analysing the foundations of democracy at national and global levels, the conditions for sustainability of democracy, and its interconnections with capitalism-be this national or global-propose a complete redesign of the UN system and its economic agencies.... Contents Preface 1. A WORLD IN ACCELERATED CHANGE IN NEED OF Democratic GLOBAL GOVERNANCE : i. Acceleration of History and Non-Tenability of the Current Capitalism-Democracy Combination ii. Towards a New Ideology for the Protection of Mankind in the 21st Century iii. Main Traits of the Recent World History and Sources of Current International Tensions iv. The Current World and its Polymorphic Change v. Facing the Big Trade Offs of New Societies vi. Summary of the Chapter and Contents of the Book 2. RECENT EVOLUTION OF THE WORLD Economy AND EXPECTED RADICAL CHANGES : i. Trends of the World Economy in the Period 1950-2007 ii. Shift Towards Asia of the Economic Gravity Centre of the World iii. The Labour Market : A Non-considered Step for Efficient Globalisation iv. Evolution of Inter-Regional Differences of Per Capita GDP Economic Non-Convergence and Negative Consequences for all Trade of Goods and Services, and Movements of Capital in the Second Half of the 20th Century v. Economic and Political Conflicts in the 21st Century Require Global Solutions through Democratic Global Governance vi. Summary of the Chapter 3. Capitalism : EVOLUTION IN THE 20TH CENTURY AND INDISPENSABLE CORRECTIONS FOR Sustainability : i. “Traditional-Liberal” Capitalism : International Competiti Printed Pages: 362., Academic Foundation, 2009<

2009, ISBN: 9788171887309

Academic Foundation, 2004. Hardcover. New. Dr. Rangarajan’s contributions are well known and well documented in a number of publications, both Indian and international… Plus…

Academic Foundation, 2004. Hardcover. New. Dr. Rangarajan’s contributions are well known and well documented in a number of publications, both Indian and international. But it has been strongly felt, particularly by his colleagues who worked closely with him, that his research contributions to various sectors of Indian economy are not available at one place. The present publication is an attempt to fill this gap and to provide easy access to some of his path-breaking articles which are frequently referred to. Dr. Rangarajan’s contributions are not confined to monetary economics, as one may usually think, but they cover a wide range — agriculture, industry, planning, banking, finance, balance of payments, exchange rate policy, and international monetary system. These subjects have been covered in the 24 selected essays which have been arranged under four sections in two volumes. The first section covers agriculture, industry and the economy. The Chapter 1 in this section, entitled “Agricultural Growth and Industrial Performance” is perhaps one of the earliest studies to express fully the linkage between agriculture and industry. This section also includes a comprehensive review of the recent economic reforms. The second section deals with issues relating to monetary and financial sectors — providing the analytical foundations of the Chakravarty Committee Report; an econometric model to study the relative impact of money supply on output and prices; and also includes detailed essays on the role of monetary policy and financial sector reforms. The third section deals with fiscal policy issues from the broader perspective of macroeconomic management, including an article on the dynamics of debt accumulation which is perhaps one of the earliest articles to be published in India in this area. A reasonably large sized econometric model is also presented to study the impact of government expenditures financed through alternative channels. The last section includes articles on exchange rate management and on the evolution of the balance of payment scenario in the country. The Report of the High Level Committee on Balance of Payments, of which Dr. Rangarajan was the Chairman, is also included. This Report is the only source which outlines the reasons for the shift of the exchange rate arrangement, initially to LERMS, and later to a market determined exchange rate system. The publication carries an exhaustive Introduction written by Dr. R. Kannan. Printed Pages: 678., Academic Foundation, 2004, Academic Foundation, 2009. Hardcover. New. Worldwide there is a growing Perception among intellectuals, politicians and citizens, that current global problems and Conflicts cannot be solved by national governments, even not by the most powerful ones. It is also more and more observable that the current multilateral Institutions (UN, World Bank, IMF, WTO, etc.), created in the aftermath of the Second World War to administrate Political Stability and economic prosperity, can no longer deliver in today’s fully informed, much more Democratic and highly interconnected world. Moreover, the pervasive promotion of national democracies across the world-as currently “pursued” by the West-to solve problems of a collective Nature (global public goods and global externalities) is neither a necessary nor a sufficient condition. Indeed, developments in the last decade have proven that at global level, and in crucial areas such as Peace and common security, global environment, etc., a UN led by self-appointed “nationally democratic” arbitrators, cannot deliver. In fact, in such circumstances and following the principle of self-interest, even nationally democratic Countries have often behaved as free-riders in global economic issues, while the most powerful, in absence of balanced political costs, have tended to Abuse the others. In addition, dominant neo-conservative Policies in the last two decades have mostly resulted in worse national and international Income distribution, increased the number of conflicts and tensions across the world, and been incapable of dealing with common-global problems such as climate change. Against the above global political background, the authors, after carefully analysing the foundations of Democracy at national and global levels, the conditions for Sustainability of democracy, and its interconnections with capitalism-be this national or global-propose a complete redesign of the UN system and its economic agencies on a democratic basis. According to the authors, this will finally result in a global democracy for exclusively dealing with global public goods and externalities. A priority target of this reorganisation will be a more balanced and acceptable global distribution of income, as a necessary condition for the Survival of global capitalism. The authors, after carefully analysing the foundations of democracy at national and global levels, the conditions for sustainability of democracy, and its interconnections with capitalism-be this national or global-propose a complete redesign of the UN system and its economic agencies.... Contents Preface 1. A WORLD IN ACCELERATED CHANGE IN NEED OF Democratic GLOBAL GOVERNANCE : i. Acceleration of History and Non-Tenability of the Current Capitalism-Democracy Combination ii. Towards a New Ideology for the Protection of Mankind in the 21st Century iii. Main Traits of the Recent World History and Sources of Current International Tensions iv. The Current World and its Polymorphic Change v. Facing the Big Trade Offs of New Societies vi. Summary of the Chapter and Contents of the Book 2. RECENT EVOLUTION OF THE WORLD Economy AND EXPECTED RADICAL CHANGES : i. Trends of the World Economy in the Period 1950-2007 ii. Shift Towards Asia of the Economic Gravity Centre of the World iii. The Labour Market : A Non-considered Step for Efficient Globalisation iv. Evolution of Inter-Regional Differences of Per Capita GDP Economic Non-Convergence and Negative Consequences for all Trade of Goods and Services, and Movements of Capital in the Second Half of the 20th Century v. Economic and Political Conflicts in the 21st Century Require Global Solutions through Democratic Global Governance vi. Summary of the Chapter 3. Capitalism : EVOLUTION IN THE 20TH CENTURY AND INDISPENSABLE CORRECTIONS FOR Sustainability : i. “Traditional-Liberal” Capitalism : International Competiti Printed Pages: 362., Academic Foundation, 2009<