-
Advertisement
Poverty
Opinion
Andrew Sheng

Opinion | Climate change, inequality and financial crises show the old order is changing – but into what?

Andrew Sheng says that there is broad agreement that a global order marred by inequality, dangerous climate developments and financial crises must change, but even panels of experts cannot produce a consensus on the shape it will take next

Reading Time:4 minutes
Why you can trust SCMP
US Treasury Secretary Steven Mnuchin, an investment banker before joining the Trump administration, roused public criticism when he and his wife, Louise Linton posed with a sheet of uncut dollar notes in November 2017, with observers comparing them to “Bond villains”. Photo: Bloomberg
What do we mean by social progress? That is the theme explored by the International Panel on Social Progress, a group of over 300 academics, including Nobel laureate Amartya Sen. After four years of work, their report was finally published last month by Cambridge University Press.
The definition of social change or progress is never value free, since different societies have diverse views on what constitutes a good or just society. As the report points out, the 20th century ideological struggles with two world wars and the 21st century global financial crisis have caused many to lose faith in socialism and trust in capitalism.

Ideologically, liberals opt for soft options, while conservatives offer hard choices, often at others’ expense.

Advertisement

Indeed, the discourse on social change has moved from polite conversation to heated debate and, in many societies, outright civil war and now geopolitical conflict. It is precisely because the world has never been richer and yet more unequal that makes the debate so confrontational. The divide is not just digital, but also generational, ideological and cultural, along ethnic, religious and identity lines.

This report suggests that social scientists have become more open to humanity-based and dialectical systems-thinking, recognising deep contradictions in all human societies and ecological systems. The panel sees the underlying contradiction of development as “poverty among plenty, individual advancement versus collective regression, and repression intertwined with liberty”.

Watch: Hong Kong wealth gap worst in five decades

Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x