Do we need a world treasury to finance peace Essay

Do we need a world treasury to finance peace - Essay Example On the national level these workers are funded for their efforts towards restoring peace. However, in a global perspective, financial resources towards peace-keeping are scarce. In this context, creating a World Treasury would be the first step in working towards global harmony. A WORLD TREASURY: Jan Tinbergen, co-recipient of the first Nobel Prize for economics, observed that almost every ministry at the national level corresponded to some international organization, with the exception of a treasury. Yet without a treasury, which collects taxes and uses them to finance all the other ministries, any government would soon collapse. He therefore proposed the creation of a World Treasury, which could finance peacekeeping, development and protection of the global environment. A World Treasury could raise revenue by auctioning global resources. It would be the logical institution to perform this essential role. Of course, an international board or an elected world parliament, should oversee the proper use of the funds raised in this way and ensure accountability at all levels. Such a method to help finance U.N. peacekeeping operations and sustainable development has five advantages: First, it frees financially pressed governments from paying ever higher contributions. Second, it gives the United Nations and its family of international organizations a more reliable source of funds to meet urgent global needs. Third, it avoids divisive and difficult negotiations over how much each country should contribute, since the richer countries naturally end up paying a higher share. Fourth, it uses market principles to improve the efficiency of allocating scarce resources. And fifth, it helps prevent possible future wars over those resources. (Fischer, Dietrich, p.12). Financing the peace movement and the peace operations from the World Treasury will become imperative. The funds will be used globally for peace-keeping. PEACE