economy Archive

0

Economic inequality has reached extreme levels – Oxfam reports

Around the world, the gap between the rich and poor is spiralling out of control. Extreme inequality is not accidental or inevitable – it’s the result of deliberate policy choices by people in power. Together we must even it up and stop inequality from undermining our fight against poverty. Join Oxfam’s campaign now to close the gap between the rich and the rest. Copyright: Oxfam From Ghana to Germany, Italy to Indonesia, the gap between rich and poor is widening. In 2013, seven out of 10 people lived in countries where economic inequality was worse than 30 years ago, and in 2014 Oxfam calculated that just 85 people owned as much wealth as the poorest half of humanity. Extreme inequality corrupts politics and hinders economic growth. It exacerbates gender inequality, and causes a range of health and social problems. It stifles social mobility, keeping some families poor for generations, while […]

Around the world, the gap between the rich and poor is spiralling out of control. Extreme inequality is not accidental or inevitable – it’s the result of deliberate policy choices by people in power. Together we must even it up and stop inequality from undermining our fight against poverty. Join Oxfam’s campaign now to close the gap between the rich and the rest.


Copyright: Oxfam

From Ghana to Germany, Italy to Indonesia, the gap between rich and poor is widening. In 2013, seven out of 10 people lived in countries where economic inequality was worse than 30 years ago, and in 2014 Oxfam calculated that just 85 people owned as much wealth as the poorest half of humanity.

Extreme inequality corrupts politics and hinders economic growth.

It exacerbates gender inequality, and causes a range of health and social problems. It stifles social mobility, keeping some families poor for generations, while others enjoy year after year of privilege. It fuels crime and even violent conflict. These corrosive consequences affect us all, but the impact is worst for the poorest people.

In Even it Up: Time to End Extreme Inequality Oxfam presents new evidence that the gap between rich and poor is growing ever wider and is undermining poverty eradication.

If India stopped inequality from rising, 90 million more men and women could be lifted out of extreme poverty by 2019.

This report delves into the causes of the inequality crisis and looks at the concrete solutions that can overcome it. Drawing on case studies from around the world the report demonstrates the impact that rising inequality is having on rich and poor countries alike and explores the different ways that people and governments are responding to it.

The world has woken up to the gap between the rich and rest and are already demanding a world that is fairer. This report supports a new campaign to join this growing movement to end extreme inequality and Even it up.

“The extreme inequalities in incomes and assets we see in much of the world today harms our economies, our societies, and undermines our politics. Whilst we should all worry about this it is of course the poorest who suffer most, experiencing not just vastly unequal outcomes in their lives, but vastly unequal opportunities too. Oxfam’s report is a timely reminder that any real effort to end poverty has to confront the public policy choices that create and sustain inequality.”
Professor Joseph Stiglitz, Columbia University, winner of Nobel Prize for Economics

Downloads

Even It Up: Time to end extreme inequality PDF 2.92 MB
Even It Up: Time to end extreme inequality (summary) PDF 540.08 KB
Even It Up: Time to end extreme inequality (endorsements) PDF 96.67 KB
Equilibre o Jogo! É hora de acabar com a desigualdade extrema (sumário executivo em português) PDF 576.99 KB

0

Green Economy is key catalyst for growth and poverty eradication, says UNEP-report

UNEP has launched a report entitled Towards a Green Economy, Pathways to a Sustainable Development and Poverty Eradication, in advance of Rio 2012, that focuses on innovative ways to reduce poverty and promote sustainable development.
The report aims to ”demystify” two myths about greening the global economy. First, sustainable development and economy go together. A green economy does not inhibit but rather provides opportunities for employment and wealth creation, it argues. Secondly, a green economy is not the prerogative of wealthy countries.
According to the report, this investment will set up the transition towards a green economy, defined as low carbon, resource efficient and socially inclusive. A large part of this transition, however, implies policies and investment that dissociate growth from the current intensive consumption of materials and energy use.
The report also seeks to motivate policy makers to create the enabling conditions for increased investments in a transition to a green economy. Investing 2% of global GDP into ten key sectors can kick-start a transition towards a low carbon, resource efficient Green Economy, a new United Nations Environmental Programme (UNEP) report suggests. The sum, currently amounting to an average of around $1.3 trillion a year and backed by forward-looking national and international policies, would grow the global economy at around the same rate, if not higher than those forecast under current economic models.
In his foreword to the report, UNEP Executive Director Acheim Steiner writes: ”New ideas are by their very nature disruptive, but far less disruptive than a world running low on drinking water and productive land, set against the backdrop of climate change, extreme weather events and rising natural resource scarcities. A green economy does not favour one political perspective over another. It is relevant to all economies, be they State or more market-led. Neither is it a replacement for sustainable development. Rather, it is a way of realising that development at the national, regional and global levels and in ways that resonate with and amplify the implementation of Agenda 21”
Sources:
http://www.unep.org/GreenEconomy/Portals/93/documents/Full_GER_screen.pdf
http://www.unep.org/greeneconomy/GreenEconomyReport/
http://www.un-ngls.org/spip.php?article3261
http://www.thebrokeronline.eu/en/trackback/id/6181

0

Green and growth go together, says OECD

The OECD Green Growth Strategy , and the new report, Towards Green Growth, provide a practical framework for governments to boost economic growth and protect the environment.
Governments must look to the green economy to find new sources of growth and jobs. They should put in place policies that tap into the innovation, investment and entrepreneurship driving the shift towards a greener economy. Green growth makes economic as well as environmental sense. In natural resource sectors alone, commercial opportunities related to investments in environmental sustainability could run into trillions of dollars by 2050.
Two broad sets of policies are essential elements in any green growth strategy: the first set mutually reinforces economic growth and the conservation of natural capital, including core fiscal and regulatory settings and innovation policies. The second includes policies that provide incentives to use natural resources efficiently and make pollution more expensive.
Replacing natural capital with physical capital is expensive and the infrastructure needed to clean polluted water can be costly, but the cost of inaction can be higher still. Greening growth now, the report argues, is necessary to prevent further erosion of natural capital, such as increased scarcity of water and other resources, more pollution, climate change, and biodiversity loss, all of which can undermine future growth. In addition to the Synthesis Report, the document Tools for Delivering on Green Growth outlines options available to policy makers for developing green growth strategies. The report Towards Green Growth – Monitoring Progress: OECD Indicators outlines ways to measure progress. http://www.oecd.org/greengrowth

0

UNEP Report Spotlights Enormous Economic and Human Benefits from Boosting Funding for Forests

Investing an additional US$40 billion (0.034 Percent of Global GDP) a year in the forestry sector could halve deforestation rates by 2030, increase rates of tree planting by around 140 per cent by 2050, and catalyze the creation of millions of new jobs according to a report by the UN Environment Programme (UNEP). Backed by the right kinds of enabling policies, such an investment – equivalent to about two-thirds more than what is spent on the sector today – could also sequester or remove an extra 28 per cent of carbon from the atmosphere, thus playing a key role in combating climate change.
Forests in a Green Economy: A Synthesis was unveiled during this year’s World Environment Day (WED) celebrations. The theme, Forests: Nature at Your Service, underscores the multitude of benefits that forests provide to humanity. http://tinyurl.com/6x83hzq

0

Governing Development in Africa – Economic Report on Africa 2011 – Focused industrial policy

To catch up and, more important, to meet its own development objectives, Africa needs to promote rapid industrialization that will promote innovation, technological adoption, entrepreneurship, high value added and employment-generating manufacturing. This will enable the continent to overcome the low contribution of industry and manufacturing to GDP and employment. The formulation and implementation of industrial policy will enable African governments to target particular activities or sectors for support. Each country will have to identify niche industries where it has competitive advantages or the capability to develop dynamic advantages. This in turn will contribute to Africa’s industrial development. However, unlike most countries in post-independence Africa, which thwarted the emergence of a capitalist class, the 21st century African developmental state has to vigorously attempt to build an indigenous capitalist class.
Also, unlike the experiences of the 20th century developmental States elsewhere, industrialization in Africa in the 21st century will have to be sensitive to environmental sustainability (chapter 3). The development of renewable energy and a green economy as part of Africa’s overall development strategy cannot be over-emphasized. Renewable energy in particular and the green economy in general offer Africa a basis for transforming the structures of its economies and to create sustainable jobs and livelihoods.
The industrial strategy of the developmental States of East Asia suggests that creating industrial winners through fiscal incentives to facilitate enhanced productivity and some form of protectionism were critical for the growth of local manufacturing. While protectionism may be difficult and largely unfashionable in a globalized economy regulated by WTO, nonetheless, as part of their industrial policy, African States should ensure a phasing-out process to protect local industries, which is necessary for their growth and consolidation. This will enable them to compete, over time, in the global economy.
http://www.uneca.org/era2011

0

OECD countries reaffirmed commitments to open trade and aid

OECD countries have pledged to abstain from trade protectionism as part of a concerted drive to shore up the world economy and combat recession. They also have reaffirmed their commitments on aid to developing countries. Already in November 2008, at a meeting of the OECD’s Executive Committee in Special Session, OECD countries agreed to sustain recent commitments regarding open trade in support of developing nations, promising, ”Within the next twelve months… [to] refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organization (WTO) inconsistent measures to stimulate exports.” They also committed to making efforts to close the Doha trade negotiations, reaching agreements that would lead to ”an ambitious and balanced outcome.”
http://www.oecd.org/dataoecd/32/41/41836868.htm#H51

0

Report shows EU imports from developing countries growing

The European Commission has presented to the European Parliament its regular report on the openness of the European market to imports from developing countries. The report sets out how the EU has continued in 2007 to use its trade policy to advance a pro-development agenda and analyses the relevant data for which the most recent available is for the period up to the end of 2006. The report shows that the EU continues to offer market access for developing country exports that is unmatched by any other major economy. EU imports from developing countries rose 16% in 2006 from 2005 and by 14% if imports from China are excluded. According to the WTO, overall global merchandise trade grew by around 8% over the same period.

The report also assesses EU measures to help developing countries integrate further into the global economy by developing their capacity to trade. The EU’s Aid for Trade strategy of October 2007, jointly agreed by the Commission and EU Member States, provides a strong basis for implementation of Aid for Trade in their respective development assistance activities. It argues that both the Doha WTO trade talks and the ongoing negotiations for comprehensive Economic Partnership Agreements and other bilateral and regional agreements have considerable potential for increasing imports and economic diversification in the developing world. http://ec.europa.eu/trade/issues/global/development/pr220408_en.htm

0

UNEP calls for end to barriers on fast-growing green economy

A global ”green economy” is now emerging but governments must move fast to scrap the many barriers and fossil-fuel subsidies that hamper it, the UN Environment Programme (UNEP) said. Presenting an annual report, Year Book 2008, the Nairobi-based agency said investment in environmentally-friendly projects was rising fast and more and more corporations were driving to save energy, thus helping to combat carbon emissions. Power companies in North America, international car manufacturers, metals and mining companies are praised for making inroads into their greenhouse-gas pollution. But oil, gas and chemicals are among the industries doing little or nothing to cut their contribution to the greenhouse-gas problem, the agency said, presenting the report at a conference in Monaco gathering environment ministers and the UNEP governing council. http://tinyurl.com/38nqx3