“Prosperity does not trickle down,” new Social Watch report finds (December 2011)

Rethinking Bretton Woods | Tue, Dec 20, 2011

By Social Watch

Release of the Social Watch Report 2012.

Progress on social indicators slowed down after the turn of the century, despite steady growth in the global economy and despite international commitment to accelerate social progress and achieve the MDGs, the recently-launched Social Watch Report 2012 finds.

This is surprising given that in this same period, total world exports multiplied almost five times and  the world’s average inhabitants more than doubled their income, from USD 4.08 a year in 1990 to USD 9.12 in 2010.

To compound matters, this slowing trend of social indicators can only get worse as the impact of the global financial crisis that started on Wall Street in 2008 begins to be registered in internationally comparable statistics (which usually lag behind the publishing of economic indicators).

The report, prepared annually with contributions from organizations in more than 65 countries – the Center of Concern is a member of the US-based Social Watch chapter--, is this year focused on the theme “The right to a Future.”

Read this year’s Social Watch Report.

Read US Chapter