Building back broader: 6 steps to a global jobs recovery plan

-Economic growth is set to return, but the recovery will be uneven.

-We can build something better: an economy that does, in fact, serve everyone.

-Here are six ways to “build back broader.”

 
For the first time in more than two decades, we’re seeing a rise in extreme poverty. Worldwide, inequality is soaring – between and within countries, including in the world’s wealthiest nations. Past shocks such as pandemics have not only exacerbated income inequalities but also had a lasting impact on education, labour market access and health. According to the latest predictions, growth is set to return, but the recovery will be uneven.

Over the last two decades, an imperfect but effective growth model rapidly expanded the global middle class and sharply reduced poverty. We’re now experiencing a reversal of this trend across developed and emerging economies. While most generations have had the assurance of social mobility – assurance that the next generation is likely to be able to do better than their parents’ generation – we’re seeing the middle class shrink, due to the technological changes of the past five years combined with pandemic-induced recession.

Put another way, for much of the world, the status quo is simply untenable – and it is and will continue to lead to broad social unrest. Moreover, there is no economic recovery possible without a social one – while there is some repressed consumer spending power that is likely to be unleashed as lockdown measures are eased, longer term growth prospects are tied to creating a virtuous cycle between broad based prosperity and a dynamic return of business activity. Similarly, a climate transition without a plan for supporting workers is only likely to worsen inequality.

Συνέχεια ανάγνωσης εδώ

Πηγή: weforum.org