Can growth and equity go hand in hand?

Can growth and equity go hand in hand?

Includes bibliography

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Autor principal: Ramos, Joseph
Formato: Texto
Lenguaje:English
Publicado: 2014
Materias:
CRECIMIENTO ECONOMICO
IGUALDAD
PRODUCTIVIDAD
ECONOMIC GROWTH
EQUALITY
PRODUCTIVITY
Acceso en línea:http://hdl.handle.net/11362/10526
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spelling oai-11362-105262020-09-28T15:22:16Z Can growth and equity go hand in hand? Ramos, Joseph CRECIMIENTO ECONOMICO IGUALDAD PRODUCTIVIDAD ECONOMIC GROWTH EQUALITY PRODUCTIVITY Includes bibliography This article presents the issue in the context of the theoretical and empirical debate, started by Kuznets, on the possibility of achieving growth with equity. The conclusion is that there is no inevitable conflict between these two goals, provided that economic policy promotes the areas of complementarity between growth and equity. It therefore rejects the approaches which assume that there is an insoluble conflict between these objectives, such as the "trickle-down" theory (which stoically accepts that such a conflict exists and proposes that those affected should wait as long as is necessary for their situation to improve); and the contrasting "parallel" approach (which suggests that growth should be sacrificed in favour of equity, with social policy being entrusted with the correction of the worst distributive effects of economic policy);. Instead, it advocates an "integrated" approach in which economic policy incorporates considerations of income distribution and social policy pays due attention to efficiency, while both attach great importance to the areas of complementarity between growth and equity. In this respect, it mentions four major areas of complementarity between these two goals, three of which are the subject of fairly general agreement (keeping the macroeconomic balances within acceptable margins; investment in human resources, and a policy of full employment in productive activities);, while the fourth is less generally agreed but is strongly supported by ECLAC: the need for the rapid, large-scale spread of technology. Finally, the article notes the instrumental differences between the ECLAC and neo-liberal approaches in seven specific areas of economic policy. For example, the neo-liberal approach gives priority to the deregulation and liberalization of markets, the neutrality of the instruments used, and some degree of passivity on the part of the State. The ECLAC approach, in contrast, calls for selective action by the State to make up for the most serious flaws and shortcomings in the factor markets, without which it is considered unlikely that the region can attain the high economic growth rates which past history has shown to be within the reach of late-industrializing countries, while it is even more unlikely that such growth can be attained with equity. 2014-01-02T18:41:24Z 2014-01-02T18:41:24Z 1995-08 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/10526 LC/G.1874-P en CEPAL Review CEPAL Review 56 application/pdf AMERICA LATINA LATIN AMERICA
institution Cepal
collection Cepal
language English
topic CRECIMIENTO ECONOMICO
IGUALDAD
PRODUCTIVIDAD
ECONOMIC GROWTH
EQUALITY
PRODUCTIVITY
spellingShingle CRECIMIENTO ECONOMICO
IGUALDAD
PRODUCTIVIDAD
ECONOMIC GROWTH
EQUALITY
PRODUCTIVITY
Ramos, Joseph
Can growth and equity go hand in hand?
description Includes bibliography
format Texto
author Ramos, Joseph
author_facet Ramos, Joseph
author_sort Ramos, Joseph
title Can growth and equity go hand in hand?
title_short Can growth and equity go hand in hand?
title_full Can growth and equity go hand in hand?
title_fullStr Can growth and equity go hand in hand?
title_full_unstemmed Can growth and equity go hand in hand?
title_sort can growth and equity go hand in hand?
publishDate 2014
url http://hdl.handle.net/11362/10526
work_keys_str_mv AT ramosjoseph cangrowthandequitygohandinhand
_version_ 1718433076695007232

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