The Challenge of Inclusion: A Conversation with Larry Summers | Institute of Politics | Summary and Q&A

TL;DR

The symposium discusses the importance of inclusive growth for economies and societies and explores various ideas to promote development.

Key Insights

• 🤑 Growth has traditionally been exclusive, and the gaps between rich and poor countries have widened over time.
• ✋ Inclusive growth aims to include people in higher productivity forms of organizing, empowering them to create their own wealth.
• 🚕 Strategies for promoting inclusive growth include investing in education, infrastructure, and healthcare, and ensuring a progressive tax system.

Transcript

good evening my name is Ricardo Hausmann I'm a professor here at the Kennedy School and I'm the director of the Center for International Development tonight is a special a forum event because we're using it to kick off a symposium on inclusive growth and development that the Center for International Development is organizing together with the world... Read More

Questions & Answers

Q: What is inclusive growth and why is it important?

Inclusive growth refers to a growth process that includes everyone in society. It is important because it ensures that the benefits of economic growth are shared by all and helps reduce inequality.

Q: How does globalization impact inclusive growth?

Globalization has both positive and negative effects on inclusive growth. While it can create opportunities for growth and development, it can also lead to inequalities and job displacements. Ensuring that the benefits of globalization are shared more equitably is crucial for inclusive growth.

Q: What role do NGOs play in promoting inclusive growth?

NGOs have been successful in innovating and addressing various development challenges, such as microcredit. They also hold traditional assistance agencies and global development banks accountable. However, there have been cases where NGOs focused on parochial agendas that were not conducive to overall development.

Q: How can developing countries prioritize between inclusive growth and just growth?

Prioritizing inclusive growth is essential for developing countries as it ensures that the benefits of economic growth are spread to all segments of society. Promoting inclusive growth leads to higher social mobility, reduced inequality, and more resilient economies.

Summary & Key Takeaways

• The symposium is organized by the Center for International Development, World Economic Forum, and MasterCard Center for Inclusive Growth.

• Inclusive growth aims to include people in higher productivity forms of organizing, empowering them to create their own wealth.

• 11 ideas on how to promote development, including access to resources, education, and infrastructure, are being discussed at the symposium.