The London Consensus - Economic Principles for the 21st Century
Unlocking political action on climate: IGC experts in The London Consensus
How can innovations – in our technology and in our institutions – overcome political gridlock on climate action? Can we explain what makes growth ‘sustainable’? And where should we look for progress on climate justice?
In less than 30 pages, Robin Burgess and Tim Dobermann from the International Growth Centre (IGC) frame the fundamental relationship between economics and the environment, and highlight the economic transitions facing all countries - rich and poor, big and small. And while identifying the knowledge gaps faced by governments and markets, they also show where the criteria for bolder decisions are already clear.
IGC's Director Robin Burgess and Director of Research Tim Dobermann
“Climate and Environment: What we know and what we need to know” is just one of 17 chapters of LSE Press’s The London Consensus: Economic Principles for the 21st Century. Published a month before COP30 is convened in Brazil, it is a major new study of the economic principles that can guide the world’s political decisions.
While it’s easy to list the problems facing the world, it’s much harder to identify the new ideas – and policies – that will solve them. Over 50 of the world’s leading economists and policy experts at the London School of Economics and Political Science (LSE) have risen to the challenge, writing on everything from populism and social inequality to the impact of the tech revolution. The result is not a one-size-fits-all set of economic remedies, but a way into the best available evidence and ideas, intended to foster dialogue on the big questions, at the highest level.
A generation ago, the so-called Washington Consensus laid out a series of dos and don’ts for policymakers around the world. Today, that vision is recognised as having fallen short in a number of ways – particularly in its neglect of the social and institutional factors that are indispensable for achieving sustained growth and for building fairer and more cohesive societies. The world has changed a great deal, and so has the collective wisdom on what sound policies look like. Drawing from the research and skills of a group of high-profile scholars, this project strives to build a "London Consensus" around which new ideas can coalesce, providing practical solutions at the local, national and global levels.
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The IGC’s research is focused on achieving inclusive and sustainable growth and reducing poverty in developing countries, and is developed through long-term partnerships with policy stakeholders. The IGC’s work includes supporting evidence-based policy-making and helping to develop systems, processes and tools that facilitate better use of data in policy decisions.
For more on the connection between innovation, growth and the environment, read the IGC’s white paper.