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Equitable capitalism or bust

Bertrand Badre and Yann Coatanlem
Bertrand Badre and Yann Coatanlem4/13/2022 03:51 PM GMT+08  • 5 min read
Equitable capitalism or bust
Advocating for equity in all its dimensions requires an expansive perspective on inequality / Photo by Albert Chua of The Edge Singapore
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Global crises have grown in frequency and intensity over the past 20 years, with worrying implications for future economic development.

The World Bank warns that the effort to reduce poverty has suffered its “worst setback” in a quarter-century, owing to the Covid-19 pandemic. Inequalities are deepening within and between countries, and across many key sectors, from education to health.

Given the scale of these problems, public policy cannot focus narrowly on income and wealth. The situation demands a holistic approach with long time horizons. Otherwise, subsequent governments will always be tempted to pursue short-term improvements with immediate political payoffs (such as an increase in households’ purchasing power), rather than investing in future welfare.

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