Public policy and the economics of inclusion
Inclusiveness enhances growth. So a strategy for inclusive growth in developing countries must empower people by including them in networks that make them productive.
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MANY people find economic growth a morally ambiguous goal - palatable, they would argue, only if it is broadly shared and environmentally sustainable. But, as my father likes to say, "Why make something difficult if you can make it impossible?" If we do not know how to make economies grow, it follows that we do not know how to make them grow in an inclusive and sustainable way.
Economists have struggled with the tradeoff between growth and equity for centuries. What is the nature of the tradeoff? How can it be minimised? Can growth be sustained if it leads to greater inequality? Does redistribution hamper growth?
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