ABSTRACT
The first paradigm shift relates to the AMBITION of development cooperation. Foreign aid has been primarily intended to reduce poverty, both individual and the poverty of whole countries. But this focus, while important, has led to an incredibly stingy understanding of human obligations, as if the job of international solidarity is done when minimum (very low) welfare standards are met. The challenge of eradicating extreme poverty remains, but today tackling inequality and enabling all countries to converge with relatively high living standards is a bolder aim, in line with the world's new global objectives, the Sustainable Development Goals (SDGs). Furthermore, global and regional public goods are moving centre-stage, especially with the call for a Global Green New Deal to combat climate chaos and ecosystem destruction, and the realisation that we need an internationalist approach to public health, both of which will require vast sums of money to achieve. Our proposal for Global Public Investment reflects these bolder long-term ambitions, which we will discuss in this chapter.
