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The Inclusive Growth and Development Report

Insight Report

Author : Samans, Richard, Blanke, Jennifer et al.

Publisher: World Economic Forum

Place of Publish: Geneva

Year: 2015

Page Numbers: 106

Acc. No: 1019-S

Class No: 330 SAM

Category: Soft Documents

Subjects: Economics

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There are no bigger policy challenge preoccupying leaders around the world than expanding social participation in the process and benefits of economic growth and integration. Even if the precise nature and relative importance of the causes of rising inequality and stagnating median household incomes remain in debate, a geographically and ideologically diverse consensus has emerged that a new, or at least significantly improved, model of economic growth and development is required. Despite an accumulation of evidence that reducing inequality can actually strengthen economic growth, the political consensus about inclusive growth is still essentially an aspiration rather than a prescription. No internationally recognized policy framework and corresponding set of indicators or measurable milestones has emerged to guide countries wishing to construct a more socially inclusive economic strategy that recognizes broad-based progress in living standards, rather than economic growth per se, as the bottom-line measure of national economic performance. Source: The Inclusive Growth and Development Report 2015