Growth With Equity: Brazil's Path to Economic Recovery
by Patrus Ananias
State of the Global Economy
(c) Wayne Stayskal
Patrus Ananias is
The financial crisis has left few corners of the global economy unscathed, but many of the loudest cries reflecting the deepest pain are largely ignored. These are the cries of the world's poorest citizens whose suffering is not measured in battered portfolios and retirement plans but in their daily survival. Poverty silently kills with hunger, malnutrition and absence of basic care. At the same time, inequality breeds violence of which too often the poor are the first victims.
The much-touted globalization of resources and wealth has mainly resulted in an internationalization of concentrations of resources, accumulation and excessive consumption. For much if not most of the world, globalization has meant that financial hardships logged in
As the International Symposium on
Yet the conference's goal is nothing less than to make strides in the movement to devise development models that are fairer and more sustainable. Similar to the global mobilization triggered by the environmental crisis, this movement responds to the failure of a model based on an excessive accumulation of wealth and the need to identify alternative ways the world economy can rise while lifting all its citizens.
Social inequalities are so ubiquitous that policymakers everywhere need to prioritize this search to build alternatives for a fairer world. The fight against hunger and poverty is a common task in every country. The solutions must be specific and adapted to the realities of each country, based on their unique characteristics, diversity, territories and cultures.
Still, we can learn from -- and help -- each other. Countries can cooperate for the greater good, and
The world needs to remember its humane duty to look after those who most suffer financial consequences. Above and beyond the noble task of helping those in need, every stratum of society benefits from this effort. Studies around the world corroborate the impact of social policies that reduce inequalities on such ills as joblessness and crime.
Moreover, lower levels of inequality are strongly associated with higher levels of economic development and social cohesion.
At the symposium,
The consequences of the financial crisis make it all the more important, not less, to pursue such policies on a global scale.
In 2003, a report authored by Goldman Sachs economists popularized the term BRICs -- Brazil, Russia, India and China -- to describe a whole new category of emerging-market powerhouse. The report argued that with sound political leadership and relative international stability, the BRIC economies would together outpace the original G6 industrialized nations in dollar terms by 2040 -- a fundamental shift in the global balance of power. Since then, these four countries have assumed ever-greater importance in the international investment community's collective imagination.
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