World Bank Calls for Market-Driven Equality
WASHINGTON, Sep 20 (IPS) - The level of equity in a country is a major determinant in its long-term development, says the World Bank's Chief Economist and Senior Vice President for Development Economics, François Bourguignon.
Speaking at the release of the Bank's World Development Report (WDR) 2006 in Washington, Bourguignon said that "there is a complimentarity between equity and the rate of growth" and that "by generating more equity, we can generate a more efficient society".
The WDR is an annual publication of the Bank that sets the tone for debate over sustainable development issues and policies. It is a reflection of the thoughts of Bank economists for its development policies in the future and their recommendations for countries around the world. The theme of this year's report is equity and development.
According to the Bank's President Paul Wolfowitz, equity can be defined as "equal opportunity" irrespective of "race, gender, social and family background, or country of birthà * avoidance of deprivation in outcomes, particularly health, education, and consumption levels".
The report uses several examples and case studies to argue that equity has a significant bearing on development. For instance, it considers the lives of two South African children born on the same day who end up living two totally different lives.
One child is black, female and from a poor family, while the other is from Cape Town and is white and male. The first has a life expectancy of 18 years less than the other, and just one year of schooling as opposed to 12 years for the second.
With respect to disparities between different countries, one of the comparisons given is between infant mortality rates of the United States and Mali. Of every 1,000 children born in the U.S., seven die in their first year -- while 126 of every 1,000 Malian children meet the same fate.
