Should equity be a goal of economic policy? (International Monetary Fund, 1998)
"Summary version of an Issues Paper circulated at the IMF Conference on Economic Policy and Equity, held on June 8-9, 1998, at IMF headquarters"--P. iii. - "December 1998"--T.p. verso
Despite widespread economic expansion, income gaps have widened during the past decade in many parts of the world, including in the industrial countries. This trend has hightened concerns about the treatment of equity in the formulation of economic policy. Equity and growth can be complementary: some policies that promote equity -- particularly investment in human capital -- can boost growth in the long run and thus alleviate extreme poverty, increase social cohesion, and reduce the scope for political conflict. Policy choices are not always so easy, however: when growth and equity do not go hand in hand, when and how should governments intervene?