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Economic Convergence: Global Marshall Plan

In: The Grand Convergence

Author

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  • James A. Yunker

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.

Suggested Citation

  • James A. Yunker, 2010. "Economic Convergence: Global Marshall Plan," Palgrave Macmillan Books, in: The Grand Convergence, chapter 0, pages 71-112, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-11264-3_3
    DOI: 10.1057/9780230112643_3
    as

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