Copenhagen Consensus

Copenhagen Consensus is a Danish project which seeks to establish priorities for advancing global welfare using methodologies based on the theory of welfare economics. It was conceived http://www.copenhagenconsensus.com/Default.asp?ID=161 and organized by Bjørn Lomborg and the Institute for Environmental Assessment, funded largely by the Danish government, and co-sponsored by The Economist. A book summarizing the conclusions, Global Crises, Global Solutions, edited by Lomborg, was published in October 2004 by Cambridge University Press.

Related Topics:
Danish - Welfare economics - Bjørn Lomborg - Institute for Environmental Assessment - Danish government - The Economist - Global Crises, Global Solutions - October - 2004 - Cambridge University Press

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The participants are all economists, with the focus of the project being a rational prioritization based on economic analysis. The project is based on the contention that, in spite of the billions of dollars spent on global challenges by the United Nations, the governments of wealthy nations, foundations, charities, and non-governmental organizations, the money spent on problems such as malnutrition and climate change is not sufficient to meet many internationally-agreed targets. This argument is supported by evidence from the World Bank, which estimates that the UN's Millennium Development Goals would cost an additional annual $40-$70 billion on top of the $57 billion already spent as of 2004 http://www.fortune.com/fortune/brainstorm/0,15704,632592-1,00.html; this increased expenditure would have to continue each year until 2015 in order to achieve the Millennium Development Goals.

Related Topics:
United Nations - Wealthy nations - Foundation - Charities - Non-governmental organization - Malnutrition - Climate change - World Bank - Millennium Development Goal - As of 2004

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The emphasis on "rational priorization" is justified as a corrective to standard practice in international development, where, it is alleged, media attention and the "court of public opinion" results in priorities that are sometimes arbitrary and/or sentimental.

Related Topics:
International development - Media attention

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