Around the world, justice movements are raising a critical question: why, in an era of immense wealth, do so many people lack the basic means to live with dignity? The issue is not a lack of resources, but rather how economies are structured. Who benefits from these systems, and who suffers? Global economic governance is not malfunctioning—it is operating precisely as intended: to safeguard the wealth of a small elite, even if it leads to increased inequality, environmental degradation, and widespread debt. Women and girls in the Global South bear the greatest consequences—not due to fate or bad luck, but because of systemic choices in financial systems that consistently undervalue care, extract resources from communities, and limit public investments in human rights.
At the core of this injustice is a fiscal structure that is both gender-neutral in appearance and deeply unequal in practice. Each year, approximately $500 billion is lost globally due to tax abuses by corporations and the ultra-wealthy—an amount that could nearly eliminate the annual funding gap for the Sustainable Development Goals. Meanwhile, governments are advised to rely on borrowing and austerity measures, reinforcing cycles of debt, underfunded public services, and unpaid care work that disproportionately affects women.
However, there is a viable alternative that is urgently needed.
Toward a rights-based economy
At the Center for Economic and Social Rights (CESR), we believe that fiscal justice is essential for building an economy grounded in human rights that ensures people can live with dignity on a thriving planet. This involves reclaiming public finance to promote gender equality, address ecological crises, and rebalance power dynamics. It means reshaping tax and fiscal policies to fairly raise resources, redistribute wealth, and invest in public services that reduce the burden of unpaid care work and guarantee fundamental rights.
Human rights provide both ethical guidance and legal strength for this transformation. They offer a widely accepted framework of values—dignity, equity, fairness, solidarity, accountability—that resonate deeply in current discussions about economic alternatives. Rights demand redistribution, remedies, and shifts in power structures.
A rights-based approach would fundamentally reshape economic policy. It would prioritize social protection, labor rights, and living wages. It would expand and make public services universally accessible. It would reform tax and corporate regulations to ensure the economy serves people, not the other way around. Most importantly, it would change how we perceive value—from one based on extraction and profit to one centered on care, community, and ecological sustainability.
To achieve this, we must also rethink how power is exercised within the economy. A rights-based economy requires dismantling corporate dominance, where private interests use economic and political influence to shape policies in their favor, and restoring democratic oversight of economic decisions. It means placing people—especially those historically excluded—at the center of governance, ensuring that communities and workers have a real voice in shaping the systems that affect their lives.
This transformation must also recognize the importance of care work, often unpaid and associated with women, which sustains our societies. Viewing care as a public good rather than a private burden requires investing in social infrastructure, redistributing responsibilities more fairly, and valuing the essential contributions of caregivers. Doing so is crucial to addressing both gender inequality and the systemic undervaluation of life-sustaining labor.
Finally, advancing a rights-based economy means revitalizing democracy itself. It calls for participatory systems that resist elite dominance, center marginalized voices, and build collective power across movements. Only through such democratic renewal can we truly build an economy rooted in equity, care, and ecological responsibility.
A fair fiscal system is essential
To realize this vision, the structure of global finance must change. The current system was shaped during the colonial era to serve the interests of a few—particularly multinational corporations and wealthy individuals in the Global North—and it is exacerbating the current multifaceted crisis rather than solving it. Global economic governance must be democratized and moved to transparent, inclusive multilateral forums such as the United Nations. It cannot continue to be decided behind closed doors at the International Monetary Fund or G20 meetings.
Gender equality must be integrated into the design of fiscal and financial systems, not treated as an afterthought. Gender-neutral tax negotiations and policy frameworks reinforce inequality. The current orthodox fiscal policy “roadmap” has caused significant harm by distributing resources unequally and obscuring accountability through opaque institutions.
A just fiscal system is the foundation of a rights-based economy. Through progressive taxation and inclusive budget processes, governments can raise resources to fund rights, redistribute wealth to reduce inequality, reshape markets to prevent harm, and repair the damage caused by colonialism and environmental destruction.
— news from Open Global Rights
— News Original —
The future of global economic governance: A rights-based vision
Across the globe, movements for justice are demanding answers to a fundamental question: why, in an age of unprecedented wealth, are so many denied the means to live in dignity? The answer lies not in scarcity, but in how our economies are organized. Who do they serve, and who do they sacrifice? Global economic governance is not failing—it is functioning exactly as designed: to protect the wealth of a few, even if it comes at the cost of deepening inequality, ecological collapse, and widespread debt. Women and girls in the Global South are among those paying the highest price—not because of fate or misfortune, but because of choices embedded in financial systems that systematically undervalue care, extract resources from communities, and limit public investments in rights.
At the heart of this injustice lies a fiscal architecture that is both gender-blind and deeply unequal. Every year, nearly $500 billion is lost to global tax abuse by corporations and the ultra-wealthy—an amount that could nearly close the annual Sustainable Development Goals financing gap. Meanwhile, governments are told to rely on borrowing and austerity, reinforcing cycles of debt, underfunded public services, and unpaid care work that overwhelmingly falls on women.
However, a different path is possible and urgently needed.
Toward a rights-based economy
At the Center for Economic and Social Rights (CESR), we argue that fiscal justice is central to building a rights-based economy that ensures people can live with dignity on a flourishing planet. That means reclaiming public finance to advance gender equality, confront ecological collapse, and rebalance power. It means reshaping tax and fiscal policies so they raise resources fairly, redistribute wealth, and invest in public services that reduce unpaid care burdens and guarantee rights.
Human rights provide both ethical grounding and legal muscle for this transformation. They offer a widely accepted framework of values (dignity, equity, fairness, solidarity, accountability) that resonate deeply in today’s debates on economic alternatives. Rights demand redistribution, remedies, and power shifts.
A rights-based approach would fundamentally reshape economic policy. It would center social protection, labor rights, and living wages. It would expand and decommodify public services. It would reform tax and corporate regulation to ensure the economy serves people, not the other way around. Most of all, it would shift how we understand value: away from extraction and profit toward care, community, and ecological sustainability.
To accomplish this, we must also reimagine how power is held and exercised in the economy. A rights-based economy demands the dismantling of corporate capture, where private industry uses its economic and political influence to shape policies and decision-making to its advantage, and the restoration of democratic control over economic decisions. It means putting people (especially those historically excluded) at the center of governance, ensuring that communities and workers have a real say in shaping the systems that affect their lives.
This transformation must also reckon with the care work, often unpaid and feminized, that sustains our societies. Recognizing care as a public good, not a private burden, requires investing in social infrastructure, redistributing responsibilities more equitably, and valuing the essential contributions of caregivers. Doing so is key to addressing both gender inequality and the systemic undervaluation of life-sustaining labor.
Finally, advancing a rights-based economy means revitalizing democracy itself. It calls for participatory systems that resist elite capture, center marginalized voices, and build collective power across movements. Only through such democratic renewal can we truly build an economy grounded in equity, care, and ecological responsibility.
A just fiscal system is essential
To make this vision a reality, the architecture of global finance must change. Today’s system was shaped during the colonial period to serve the interests of a few (especially multinational corporations and wealthy individuals in the Global North). It is deepening the current polycrisis, not solving it. Global economic governance must be democratized and move to a transparent and inclusive multilateral forum such as the United Nations. It cannot be carried out behind closed doors at the International Monetary Fund or G20 meetings.
Gender equality must be built into the design of fiscal and financial systems, not added as an afterthought. Gender-blind tax negotiations and policy frameworks reinforce inequality. The current orthodox fiscal policy “roadmap” has produced enormous harm by distributing resources unequally and obscuring accountability through opaque institutions.
A just fiscal system is the foundation of a rights-based economy. Through progressive taxation and inclusive budget processes, states can raise resources to fund rights, redistribute wealth to reduce inequality, reshape markets to deter harm, and repair the damage caused by colonialism and environmental destruction.