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INTERNATIONAL STUDIES SEMINAR: IS GOVERNMENT SUSTAINABLE?

Monday 22 October 2007

Mr Julian Morris, Director of the International Policy Network and Visiting Professor in the Department of Economics and International Studies, visited the University on Wednesday 10 October and gave a seminar entitled Is Government Sustainable? The talk was attended by both students and staff.

Mr Morris argued that property rights are crucial for economic growth and sustainable development. Property rights should be definable, defensible and defeasible. The key lessons for sustainable development are to decentralise economic activities, to encourage private ownership, to enable people to trade freely, to reduce restrictions on business and to implement clearly defined property rights.

Mr Morris pointed out that in the 19th and 20th Centuries a dramatic rise in per capita GDP took place. In 1820 80% of the people were living on $1 per day. In 2000 this number was reduced to 25%. Economic growth led to a huge reduction of absolute poverty. But economic growth not only leads to a reduction of poverty but also to better health and better protection for the environment. The wealthier people are, the more they care about the environment. Both China and India reduced pollution by importing better and cleaner technologies from Western countries.

Mr Morris finished his interesting talk with examples for unsustainable development from the former Soviet Union, Brazil, Africa, India and China.

Report by Philipp Mueller and the Web Team