Understanding Democratic Governance and Market Economy

The Millennium Development Goals resulted in the most rapid reduction in poverty around the world in human history. Because of this success, it was deemed untenable to simply abandon these efforts when the 2015 deadline came to pass. As a result, United Nations Secretary General Ban Ki-moon established a High-Level Panel to advise on a global development framework beyond 2015.  Constituted by 27 representatives from civil society, the private sector, and government institutions, the panel set about outlining a new development agenda that would “carry forward the spirit of the Millennium Declaration…with a practical focus on things like poverty, hunger, water, sanitation, education and healthcare.” At the heart of their discussions for creating sustainable development, the panelists focused on the vital components of “good governance and institutions that guarantee the rule of law, free speech and open and accountable government” that were not included in the original MDGs.