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shared prosperity

Weekly wire: The global forum

Roxanne Bauer's picture

World of NewsThese are some of the views and reports relevant to our readers that caught our attention this week.

Measuring the Information Society 2015
International Telecommunication Union
The Measuring the Information Society Report (MISR), which has been published annually since 2009, features key ICT data and benchmarking tools to measure the information society, including the ICT Development Index (IDI). The IDI 2015 captures the level of ICT developments in 167 economies worldwide and compares progress made since the year 2010. The MISR 2015 assesses IDI findings at the regional level and highlights countries that rank at the top of the IDI and those that have improved their position in the overall IDI rankings most dynamically since 2010. The report will feature a review and quantitative assessment of the global ITU goals and targets agreed upon at PP-14 and included in the Connect 2020 Agenda.

Prosperity Rising
Foreign Affairs
Since the early 1990s, daily life in poor countries has been changing profoundly for the better: one billion people have escaped extreme poverty, average incomes have doubled, infant death rates have plummeted, millions more girls have enrolled in school, chronic hunger has been cut almost in half, deaths from malaria and other diseases have declined dramatically, democracy has spread far and wide, and the incidence of war—even with Syria and other conflicts—has fallen by half. This unprecedented progress goes way beyond China and India and has touched hundreds of millions of people in dozens of developing countries across the globe, from Mongolia to Mozambique, Bangladesh to Brazil.  Yet few people are aware of these achievements, even though, in aggregate, they rank among the most important in human history.

Campaign Art: How (un)equal is East Africa?

Roxanne Bauer's picture
People, Spaces, Deliberation bloggers present exceptional campaign art from all over the world. These examples are meant to inspire.

The 85 richest individuals in the world own as much as 3.5 billion of the poorest people, according to Oxfam. It's a staggering statistic, but it has friends. 

The 2014 Global Wealth Databook by Credit Suisse reports the bottom 50% of the world's population own less than 1% of its wealth, the richest 10% hold 87%, and the top 1% alone possess 48.2%. 

The International Monetary Fund and World Bank Group also stated in the Global Monitoring Report that while the number of people living in extreme poverty is decreasing, the gap between the haves and the have nots is increasing. Today, the world's richest 10% earn 9.5 times more than the poorest 10% of the world. Twenty-five years ago, they earned 7 times more than their less fortunate peers.

Taking a closer look at East Africa, Ben Taylor (mtega), an Open Development Consultant with Twaweza, finds that the richest 1% in East Africa own as much wealth as the poorest 91%. The six wealthiest individuals in the region own as much as 50% of the region’s population or 66 million people.
How (un)equal is East Africa?

Social Inclusion and Concentration of Wealth - What the World Bank Gets Right and What It Misses.

Duncan Green's picture

This guest post comes from Ricardo Fuentes-Nieva, Oxfam Head of Research, (@rivefuentes)

No one expects the World Bank to be a simple organization. The intellectual and policy battles that occur inside the Bank are the stuff of wonk legends – I still remember the clashes around the poverty World Development Report in 2000/2001. This is not a criticism. One of the strengths of the World Bank is its dialectic nature – I observed that up close when I was part of the WDR on climate change a few years ago.

Kevin Watkins, the new director of the Overseas Development Institute, reminded me recently that in 1974 Hollis Chenery, then Vice President  and Chief Economist of the World Bank, published a book titled “Redistribution with Growth: An Approach to Policy”. Kevin writes that the central idea of the book was “that the poor should capture a larger share of increments to growth than their current share. That idea has even more resonance today.”

The current battle inside the Bank seems to focus on the issue of skewed distribution of benefits of development and the problems this causes. On the one side there’s a resurgence of the argument that “growth is good for the poor” that argues there is no difference between “shared prosperity” and plain prosperity, as measured by economic growth; on the other hand, the Bank’s Chief Economist retorted that “[o]verall economic growth is important, but the poor should not have to wait until its benefits trickle down to them.”