Why ‘economic growth at all costs’ doesn’t always work
When a government is trying to lift its citizens out of poverty, a big part of its development plan is probably focused on economic growth.
But according to Achim Steiner, administrator of the United Nations Development Programme, countries shouldn’t make economic growth the ultimate measure of success. When it comes to addressing global poverty, it’s important to look at how governments use their newfound wealth, and how much they invest in the public good.
“One of the great achilles heels of the development pathway that countries, particularly toward the end of the 20th century have chosen, is economic growth at all costs, and once you have accumulated wealth you can begin to redistribute it.” Steiner said. “It doesn’t quite work like that.”
Watch the video above to see what Steiner thinks countries are doing well to eliminate poverty, and what still needs to be done.