Franklin Roosevelt once said “We are trying to construct a more inclusive society…. We are going to make a country in which no one is left out”.
Fast-forward to 2014 and it would seem that an ‘inclusive society’ is harder to achieve than hoped with US inequality levels soaring.
So back to the question – What’s so inclusive about growth?
Historically? Well as the case of the US shows(along with many other experiences from around the world) nothing really. As the OECD highlights, there are three problems that even the record levels of growth of the 1990s and decade of 2000s failed to tackle: poverty, unemployment and inequality.
The failure of economic growth to tackle these critical issues, along with its disappointing track record of being translated into well-being has highlighted the need for a different growth model. One that is inclusive.
is inclusive growth debate is gaining traction in a global context where sustainable development is a priority given the increasing impacts of climate change and other forms of environmental stress and a disappointing track record of translating economic growth into sustainable human development.
Today CAFOD launches a discussion paper (and a shorter summary paper) looking at precisely this question. The paper reviews the literature and proposes a working definition for inclusive growth. Drawing on the evidence, it then proposes some key elements to be pursued within a growth strategy if it is to be inclusive. We end the paper with a short case study considering the role that small businesses could play in delivering inclusive growth.
As a discussion paper we’d particularly welcome your thoughts. Please feel free to email me directly or post your thoughts in the discussion space below.