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World Economic Forum

‘Working for the Few’: Top New Report on the Links between Politics and Inequality

Duncan Green's picture

As the world’s self-appointed steering committee gathers in Davos, 2014 is already shaping up as a big year for inequality. The World Economic Forum’s ‘Outlook on the Global Agenda 2014’ ranks widening income disparities as the second greatest worldwide risk in the coming 12 to 18 months (Middle East and North Africa came top, since you ask).

So it’s great to see ‘Working for the Few’, a really excellent new Oxfam paper by Ricardo Fuentes and Nick Galasso, tackling an issue best summed up by US Supreme Court Justice Louis Brandeis in the aftermath of the Great Depression, ‘We may have democracy, or we may have wealth concentrated in the hands of the few, but we cannot have both.’ i.e. the politics of inequality and redistribution.

The Brandeis quote is particularly relevant because this time really is different. After the 2008 global meltdown, we have not seen anything like the New Deal, in terms of redistribution or reform. The paper argues that this is because political capture by a small economic elite is much more complete this time around.

Inequality Isn’t Hopeless. But You Need a Plan

Jim Yong Kim's picture

DAVOS, Switzerland – When we talk about particularly difficult issues at the World Bank Group, I always ask my team a simple question: What’s the plan?

If they have a plan, the next question I ask is whether the plan is serious enough to match the scale of the problem. Here at the World Economic Forum at Davos, one of the main issues before us is an extraordinarily tough one – how do we reduce the growing income inequality around the world? Income inequality has grown to enormous proportions but my question to World Bank staff and folks here in Davos is the same: What’s the plan to lessen income inequality across the world?

Income inequality can appear to be an intractable problem. But the fact is we already know a lot about how economies can grow in a way that includes even the poorest. We need a plan to tackle inequality and we think there are at least five things that we can do right now that could help.

From Davos, A Plan to Fight Income Inequality

Jim Yong Kim's picture

DAVOS — The theme of this year's World Economic Forum here involves income inequality and how to close the wide gap between rich and poor. I think this is a smart choice for the meeting, which attracts some of the most powerful and wealthiest people in the world. But to battle income inequality, you need a serious plan. Watch this video from Davos to hear what we recommend as a smart plan of action.

The Highs and Lows of the Global ICT Landscape

Uwimana Basaninyenzi's picture

For the last twelve years, the World Economic Forum and INSEAD have been publishing The Global Information Technology Report (GITR), which features a Network Readiness Index (NRI) that measures the ability of countries to leverage information communication technologies (ICTs) for growth and well-being. This year’s GITR, which focuses on jobs and growth, covers 144 countries. The assessments are based on a broad range of indicators that include Internet access, adult literacy, and mobile phone subscriptions. As noted in the report, the growing availability of technology has empowered citizens of both developed and developing countries with good access to the digital world. However, this year’s GITR has some sobering news about the state of ICTs in many parts of the developing world. Despite some positive trends, the report shows a sharp digital divide between impoverished nations and richer economies.

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

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

BET
Like Water for Internet: Ory Okolloh Talks Tech in Africa

“Last week, ahead of her trip to Washington, D.C., to speak to the World Bank about Africa’s private sector, the 35-year-old Policy Manager for Google Africa took to her Twitter account and asked her followers, “What should I tell them?”
The responses came in fast and varied from rants about corruption in multinational corporations to comments about infrastructure and energy. For the most part, Okolloh didn’t engage the responses, but she did re-tweet them for all to read and she made sure to add the World Bank’s twitter account to the dispatches so that the behemoth institution could also see what Africa’s tweeting populace had to say.” READ MORE

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

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

BET
Like Water for Internet: Ory Okolloh Talks Tech in Africa

“Last week, ahead of her trip to Washington, D.C., to speak to the World Bank about Africa’s private sector, the 35-year-old Policy Manager for Google Africa took to her Twitter account and asked her followers, “What should I tell them?”

The responses came in fast and varied from rants about corruption in multinational corporations to comments about infrastructure and energy. For the most part, Okolloh didn’t engage the responses, but she did re-tweet them for all to read and she made sure to add the World Bank’s twitter account to the dispatches so that the behemoth institution could also see what Africa’s tweeting populace had to say.” READ MORE

The Global Education Imperative

At last month's Annual Meeting of the World Economic Forum in Davos, Switzerland, UN Secretary-General Ban Ki-moon shared the stage with Western Union President Hikmet Ersek, Nigerian Minister of Communication Technology Omobola Johnson, World Bank Group President Jim Yong Kim, UN Special Envoy for Global Education, Gordon Brown and Danish Prime Minister Helle Thorning-Schmidt, during an hour-long panel entitled, "The Global Education Imperative."

Secretary-General Ban Ki-moon called upon participants to strengthen efforts to achieve global targets related to education and health, stressing the importance of building a better future for all. He noted that progress in this critical field has stalled in recent years, which was the impetus for his recently launched Education First Initiative.

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

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

The Atlantic
How Social Media Could Revolutionize Third-World Cities

“When a housewife in a working-class district of Mexico City gets fed up with the lack of working lights in her local park, she logs on to Twitter and complains directly to the city's mayor.

In an age of incessant digital chatter -- and in a city of 22 million -- this might seem futile. But the mayor, who has more than 600,000 Twitter followers, replies to her complaint within hours. He orders the city's public works department to take action. Several weeks later, he posts photos of new lights being installed in the park and thanks the woman for bringing the problem to his attention.

In fact, the mayor's Twitter feed reads like a gritty chronicle of life in a megacity. Potholes, of course, but also complaints and announcements about garbage collection, crime, traffic lights, construction delays, power outages, water supplies, bike lanes, flooded sewers, corruption, air quality, and the proverbial rude bureaucrat.”  READ MORE

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

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

Global Voices Advocacy
Netizen Report: Raise Your Voice Edition

“Internet activists in India are fuming over the country’s sweeping new Internet restrictions on objectionable content, and are beginning to take extreme action to combat the law. This week we recognize Aseem Trivedi and Alok Dixit from Save Your Voice, who have begun a hunger strike in protest of the ‘Information Technology (Intermediaries Guidelines) Rules 2011’ which were quietly issued by the Ministry of Communications and Information Technology in April 2011.

One of the flaws of the new rules is that they mandate that website or domain owners must take down material within 36 hours when a third party issues a complaint, without giving a chance for content owners to defend the material. The Bangalore-based advocacy group Centre for Internet & Society also pointed out that the rule leads to a general chilling effect on freedom of expression over the Internet.”  READ MORE

Davos 2012: Slippery Streets

Kevin Lu's picture

The World Economic Forum launched its seventh Global Risks report before this year’s annual meeting in Davos. The top risk this year, among the 50 most pressing risks based on a survey of 400 top business leaders, is income inequality and its associated economic and political risks. The report aptly summarized this risk as the “risk of dystopia.”


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