Economic Convergence: Global Marshall Plan

James A. Yunker

Chapter Chapter 3 in The Grand Convergence, 2010, pp 71-112 from Palgrave Macmillan

Abstract: Abstract The economic aspect of the proposed “grand convergence” is a global Marshall Plan tentatively designated the World Economic Equalization Program (WEEP), through which the wealthy countries would donate a part of their new financial investment resources into a worldwide transfer fund for distribution to capital development projects in the less developed countries (LDCs). The objective of the program is to raise the productive capabilities of the latter nations to the point where their average living standards are reasonably close to those in the wealthy nations. Owing to the very substantial gap in living standards that has opened up between the rich and the poor nations, the program would require a minimum of several decades to complete successfully. Clearly, it would be the most tremendous economic undertaking in the whole history of humanity. If successful, it would greatly strengthen the spirit of human solidarity throughout the world, lay a secure foundation for international peace and cooperation, and thereby significantly enhance the prospects that the Federal Union of Democratic Nations will be a permanent, benign component of global political organization into the far future.

Keywords: Capita Income; Purchasing Power Parity; Gross National Income; Poor Nation; Rich Nation (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11264-3_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230112643

DOI: 10.1057/9780230112643_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().