Inequality can be both good and bad for growth, depending on what inequality and whose growth. Unequal societies may be holding back one segment of the population while helping another. Similarly, high levels of inequality may be due to a variety of factors; some good, some bad for growth.
The World Region
Our ability to collect and process complex information has the potential to transform how we manage our environmental footprint. But creating information and actually using it to drive change that benefits both people and the planet are two very different things.
In October 2015, the Washington Post ran a story that compared the World Bank’s performance to that of other bilateral and multilateral development finance institutions. It identified the Bank as a leader among its peers in the value-for-money that it provides to its shareholders (and their taxpayers).
The development community has experienced various “revolutions” over the years – from microfinance to women’s rights, from the green revolution to sustainable development. Each of these awakenings has improved our understanding of the challenges we face; each has transformed the development landscape, mostly for the better.
We now see the beginnings of another, long-overdue, revolution: this one focused on the fundamental role of land in sustainable development. Land has often been at the root of revolutions, but the coming land revolution is not about overthrowing old orders. It is based on the basic fact that much of the world has never gotten around to legally documenting land rights. According to the World Bank, only 10% of land in rural Africa and 30% of land globally is documented. This gap is the cause of widespread chaos and dysfunction around the world.
Also available in: Français
Land and property lie at the center of many of today’s pressing development challenges. Consider that at most 10% of land in rural Africa is reliably registered. At this week‘s annual Land and Poverty Conference here at the World Bank, we will hear how this vast gap in documentation of land gap blunts access to opportunities and key services for millions of the world’s poorest people, contributes to gender inequality, and undermines environmental sustainability.
It’s 3/14, also known as Pi Day – a mathematics holiday to celebrate the irrational, transcendental number we learned in school, for the most part, to calculate the circumference or area of circles. While there are a number of fulfilling Pi(e) related activities you can indulge in, from feasting on scrumptious pies to chasing down the value of Pi (good luck!), it is also an apt moment to turn attention to where children across the world stand in mathematics achievement and other learning outcomes.
When we think of scorecards, we think of football or other sports where we want to keep track of how our favorite players and teams are doing. We at the World Bank are also a team – a team battling a very tough opponent; in fact, two opponents: poverty and inequality. While this not a “game” by any means – the stakes are high as the lives and livelihoods of millions of people around the world are on the line – we also want to keep track of how we’re doing.