Comrades,
Interesting idea about the world party. One problem I see is the argument
about demand-side policy. This argument apparently holds the assumption
that economic growth is compatible with sustainability. While present
poverty levels are due to distributional problems, it does not follow that
we can meet a high level of affluence for everyone and maintain this over
the long haul if the distribution problem is solved.
If production tends towards demand insufficiency, then rather than gear
policy towards increasing demand, i.e., consumption, we should gear policy
towards reducing consumption. The upshot of this is that capitalism must
be replaced if the goals outlined in this hypothetical program are to be
realistic. If this is the task, and if the treadmill of production means
ultimately overshoot, then global Keynesianism isn't an option.
Andy