OECD

Overview

The Organisation for Economic Co-operation and Development (OECD) is an international organization that works to build better policies for better lives. Its goal is to shape policies that foster prosperity, equality, opportunity, and well-being for all. The OECD draws on almost 60 years of experience and insights to better prepare the world of tomorrow.

History

The OECD originated from the Organisation for European Economic Co-operation (OEEC), which was established in 1948 to administer the Marshall Plan for the reconstruction of Europe after World War II. Later, its membership was extended to non-European states, and in 1961, it was reformed into the OECD. The organization's headquarters are located in the Château de la Muette in Paris, France.

Membership

The OECD has 38 member countries, with Colombia being the most recent member to join in April 2020. The members span the globe, from North and South America to Europe and the Asia-Pacific region. They include many of the world’s most advanced countries but also emerging countries like Mexico, Chile, and Turkey.

Structure

The OECD's work is overseen by three main bodies: the OECD Council, the Committees, and the Secretariat. The Council is the organization's governing body, responsible for setting the OECD's work programme and budget. The Committees are composed of representatives from member countries and guide the work of the Secretariat. The Secretariat carries out the work of the OECD, under the leadership of the Secretary-General.

Activities

The OECD provides a forum in which governments can work together to share experiences and seek solutions to common problems. It works with governments to understand what drives economic, social, and environmental change. It measures productivity and global flows of trade and investment. It analyses and compares data to predict future trends. It sets international standards on a wide range of things, from agriculture and tax to the safety of chemicals.

Impact

The OECD's work leads to the development of international policies and standards in a variety of fields. These standards help to shape the laws and regulations in member and non-member countries alike. The OECD's work has had a significant impact on issues such as tax evasion, international business conduct, and environmental protection.

Criticism

The OECD has been criticized for its focus on the economic growth of nations, with critics arguing that this does not necessarily lead to improved social outcomes. Critics also argue that the OECD's consensus decision-making process can lead to weak and ineffective policies.