Rethinking Bretton Woods | Sat, Mar 30, 2013
Rethinking Bretton Woods Project Director Aldo Caliari was among a group of economists, academics, and development experts signing on an appeal to the Bali meeting of a High Level Panel appointed by the UN Secretary General to develop ideas for the development framework that should replace the Millennium Development goals come 2015. The appeal calls for inequality to be placed at the heart of any potential post-2015 framework.
This focus on inequality is needed to eradicate extreme poverty by 2030. As of right now, the appeal states, the incomes of the top 1.75% exceeds the incomes of the bottom 77%. Inequality is a barrier to individual development and sustained economic growth. One of the document’s suggestions is to use Palma’s ratio as an inequality target, which argues that the top 10% of a society’s incomes should not be more than the 40% at the bottom of that society.