World Bank in inequality warning (BBC News)

[Up2Late]

(I know, Dah, inequalities=poverty, but this report is about the new 2006 report. My question is, has anything change now that Wolfie is head of the World Bank?)

World Bank in inequality warning

Reducing inequality is central to tackling poverty and bringing about sustainable economic growth, the World Bank has said in a key report.

Tuesday, 20 September 2005, 16:01 GMT 17:01 UK

Wider access to education and jobs could "level the economic playing field" and improve livelihoods, it said in its 2006 World Development Report. It acknowledged that wealth differences had risen between and within countries. Trade liberalization and effective development aid were among measures needed to help close gaps, it added.

'Persistent inequalities'

The report represents the development agency's most public acknowledgment that redistribution, in addition to economic growth, is needed to reduce world poverty.

It said its view was consistent with other international bodies including the United Nations which has warned that its Millennium Development Goals - the UN's bid halve the number of people living poverty by 2015 - would not be met without progress in addressing inequality. Measured in absolute terms, economic inequality is widening, not only between the richest and poorest countries but also within industrialized nations such as the US, UK and New Zealand.

The World Bank said action was needed to eradicate "persistent inequalities" in societies such as poor access to water, sanitation, power, medicine and communications.

<http://news.bbc.co.uk/2/hi/business/4264330.stm>
(more at link above)

[Tempest]

1. Wolfowitz's solution

More wars to reduce the inequalities by attrition.

[1932]

2. I believe that income inequality was the most significant precursor to the

Great Depression.

The Repubican plan (with the assistance many Democrats, like Lawrence Summers, Robert Rubin, Al Gore, Biden, Lieberman) to undo the New Deal has brought us right back to the brink. Throw on top of that the fact that we're using neoliberalism to deny the rest of the world the opportunity for their own New Deals (or, as Stiglitz might argue, their own steady, planned transition to market economies) and we're on the brink of something much much worse that the Great Depression.

The only bright light at the end of the tunnel is that FDR and Keynes have already showed us what to do, and that it can be implemented relatively quickly. But it's still going to cause a world of unneccessary hurt and there are going to be huge opportunity costs that we're going to incur as result of what's about to happen.

[krkaufman]

3. The fact that they managed to state the bleeding obvious...

... as the problem, doesn't mean that their "solutions" are remotely close to what is really needed. Things have gotten worse under the World Bank's guidance.

[clydefrand]

4. I saw Wolfie on CNN Saturday night

along with Big Dog Clinton, Bono and others. I was surprised to see him discussing poverty. Clinton was heading up the Global Summit on Poverty and he was being interviewed by Amanpour. Very good show.

Every time Clinton spoke so lucidly and fluently, I couldn't help but wonder how Bush would look in the setting had he been asked the hard questions. I know, I know...he'd be the stupid asshole that he always is.