SOURCED WITH THANKS TO THE UNITED NATIONS

GOAL 10: REDUCING INEQUALITY

ONE OF THE MOST IMPORTANT GOALS OF OUR TIME

economic growth is not sufficient to reduce poverty

IF IT IS NOT INCLUSIVE

Economic growth only reduces poverty where it involves the three dimensions of sustainable development – economic, social and environmental.  This is one of the reasons why governments must measure their progress and growth not only through the lens of GDP, but the equally important lens of the Social Progress Index, championed by Michael Green and others.

Goal 10: Reduce inequality within and among countries

The international community has made significant strides towards lifting people out of poverty.  The most vulnerable nations – the least developed countries, the landlocked developing countries and the small island developing states – continue to make inroads into poverty reduction.  However, inequality persists and large disparities remain regarding access to health and education services and other assets.

There is growing consensus that economic growth is not sufficient to reduce poverty if it is not inclusive and if it does not involve the three dimensions of sustainable development – economic, social and environmental. Fortunately, income inequality has been reduced both between and within countries. At the current time, the per capita income of 60 out of 94 countries with data has risen more rapidly than the national average. There has been some progress regarding creating favorable access conditions for exports from least developing countries as well.

To reduce inequality, policies should be universal in principle, paying attention to the needs of disadvantaged and marginalized populations. There needs to be an increase in duty-free treatment and continuation of favoring exports from developing countries, in addition to increasing the share of developing countries’ vote within the IMF. Finally, innovations in technology can help reduce the cost of transferring money for migrant workers.

WordPress › Error

There has been a critical error on this website.

Learn more about troubleshooting WordPress.