Inclusive growth is one of the key issues when we talk about economy. Instead of a one-sided focus on GDP a focus on inclusive growth is the a way to achieve sustainable growth. In the European election manifesto the ECPM states:
,,It is time for a relational paradigm that leads to a more inclusive approach in which the dignity of the human being, our common wellbeing and wise stewardship of resources is seen as equally important as competitiveness and efficiency. This approach can guide the EU as well as national governments in their economic policies.”
Therefore the ECPM welcomes last week’s OECD report ,,All on Board: Making Inclusive Growth Happen”. The report provides evidence of the consequences of inequality, sets out a framework for action and allows governments to assess how policies impact different social groups in different ways. The report is part of an Organization-wide effort to develop an inclusive agenda for growth and well-being, and is a natural offshoot of the OECD New Approaches to Economic Challenges (NAEC) project to reflect on the causes of the crisis and the lessons for policy. The report says economic and social policies should be designed to foster both equity and growth. Investing in skills and education, for example, can have far-reaching impact on these twin objectives.
The report shows that the recent declarations that ‘the crisis is over’ from the European Commission and political leaders are not true for far too many people in Europe. What we need is inclusive growth in which growth becomes reality not just in GDP numbers but in the lives of the people in Europe.