makingit_15_pp2-3_intro_print 21/11/2013 11:13 Page 3
Editorial
Industrial development fell out of fashion in the so-called “North” in the 1990s due to the hike in the services sector and the prevailing gospel of Washington Consensus policies. Ironically, at the very same time, industrialization was slashing poverty rates in East and South Asia. In fact, it is largely through industry that the Millennium Development Goal (MDG) Goal 1 – to halve extreme poverty and hunger – will be met at the global level. Since the turn of the millennium, things have changed immensely. Industry is back! Manufacturing and entrepreneurship are now recognized as the key drivers to create the growth rates, jobs and economic structures needed to eradicate poverty and provide sustainable livelihoods for all. Industrial policy – government policies directed at affecting the economic structure of the economy – is firmly back on the agenda in countries around the world and at all stages of development. The standard argument was that markets were efficient, and there was no need for government to intervene. But the global crisis of 2008-2009 showed that markets were not necessarily efficient. Furthermore, without strong government intervention, the market economies of the United States and Europe may have collapsed. Today, the relevance and pertinence of industrial policies are acknowledged by mainstream economists and political leaders from all sides of the ideological spectrum. In this issue, our contributors look at the future of industrial development from a variety of perspectives but each with a common pursuit: the goal of inclusive and sustainable industrial development for all countries.
inclusive gender equality addition
value
resource efficiency
development
UNIDO
resilient
growth social inclusion social environmental
industrial
science
technology
industrialization
innovation
post-2015
sustainable poverty eradication job creation
productive capacity-building
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