Is inclusive growth attainable?

In today’s world, policy-makers and leaders focus their efforts on supporting drivers of economic growth, which has led to substantial increases in wealth for large numbers of people across the globe. Despite huge gains in global economic output in recent decades, there is evidence that social, political and economic systems are exacerbating inequalities, rather than reducing them. The unbalanced distribution of the benefits of economic growth has led to mounting social and political tension in many parts of the world, and is predicted to grow further in the future if we do not make growth more inclusive.

Concerted effort is needed to address the individual and systemic challenges posed by social and economic exclusion. Complex challenges require multidimensional, innovative responses from stakeholders at all levels to achieve a more prosperous and sustainable future that generates opportunities for all citizens. This is where we all have a role to play.

For change to occur, we need partnerships between governments, the private sector and civil society to build systems that can deliver sustainable, scalable solutions. As we work for shared global prosperity, we must draw on ideas and experience from around the globe. As a hub for public-private cooperation, the World Economic Forum launched a new initiative on inclusive growth that marks an unparalleled collaboration between the World Economic Forum’s Meta-Council on Inclusive Growth, the Center for International Development at Harvard University and the MasterCard Center for Inclusive Growth to unlock solutions to one of the most pressing issues of our time.

Call for proposals

As part of its mandate to find sustainable and scalable solutions to foster inclusive growth, the World Economic Forum’s Global Agenda Meta-Council on Inclusive Growth is collaborating with the Center for International Development at Harvard University and the MasterCard Center for Inclusive Growth and seeking examples of practices, policies and institutional initiatives ‒ public or private ‒ at the intersection of inclusion and growth.

We are particularly interested in:

• Practical ideas, implemented or not, that stimulate growth through inclusion by facilitating access to or the diffusion of higher productivity activities
• Examples that encourage the equitable distribution of gains from economic activity and enhance the efforts necessary to generate growth
• Examples that strengthen broad-based progress in living standards from any field, including those that improve access to or conditions of work, education, credit, infrastructure, habitat, transportation, communication, finance, taxation, intellectual property rights, etc.

The only requirement is that they promote inclusive growth and are actionable. We are not interested in examples that only achieve higher growth or are just about redistribution.

Technological innovation has already had a tremendous impact on scaling some of the best practices for achieving inclusive growth, bringing more opportunities and access to the benefits of economic activities to people.

Can we find ways to scale the existing best-practice models and support them at the policy level? If you would like to contribute to this initiative, we invite you to fill out the application form and submit your proposal to inclusivegrowth@weforum.org. The deadline for application is Monday 27 April.

Fifteen proposals will be selected and featured at the Symposium on Inclusive Growth, hosted at Harvard University on 2 October 2015. These proposals will be further discussed at the Summit on the Global Agenda in Abu Dhabi, bringing together experts from Global Agenda Councils of the World Economic Forum, on 25-27 October 2015.

For further information about the World Economic Forum’s Meta-Council on Inclusive Growth and the related project, please contact inclusivegrowth@weforum.org.

Authors: Liana Melchenko is Associate Director, Global Agenda Councils, and Chidiogo Akunyili is Senior Community Manager, Africa Shapers, at the World Economic Forum.

Image: An aerial view of flower fields in Lisse, the Netherlands, April 15, 2015. REUTERS/Yves Herman