Uneven Global Development

A FIVE YEAR PLAN FOR ECONOMIC DEVELOPMENT

Over the past thirty years, incomes in the countries with the richest twenty percent of the world's population grew nearly three times faster than in those countries with the poorest twenty percent (Apodaca, 205). That gap is widening. Our country, while not a member of the poorest nations, does stand below the fiftieth percentile and must take strong action in the next five years in order to allow the nation to compete successfully as a member of the world economy.

After a year during which unexpected weakness in global activity was exacerbated by the terrible events of September 11 and their aftermath, the world economy remains subdued and the outlook is still uncertain. There are still reasons for cautious optimism, however. For example, industrial production appears to have bottomed out in a number of countries, confidence is stabilizing, and global financial markets have strengthened. It is reasonable to expect that the global recovery will gradually take hold and spread as the year progresses, first in the United States, and then Europe, and then the rest of the world. Our country must find a way to participate in this hoped-for recovery and new growth.

Meantime, the environment for emerging economies remains less supportive than it was: the demand for exports is weaker, and the supply of capital is less reliable. This makes it all the more important that we take the right steps now to boost longterm growth

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tral government can help by making funding conditional on necessary reforms. For example, metering, energy audits, commercialization of distribution, and the raising of tariffs to economically sensible levels (Currey, 261-63). EDUCATION Literacy is the first step towards empowerment. Universal primary education is an effective antipoverty measure that promotes equity. The economic returns, both private and social, on investing in education are high (Apodaca, 207). Education is critical to build a modern, marketbased economy and to raise living standards. Most of the rapidly growing nations have achieved universal primary education; average wages for their workers have risen twoandahalf times in real terms over the last thirty years; and during that same period, they have achieved the fastest rate of poverty reduction in history (Assie-Lumumba, 89-90). In SubSaharan Africa, by contrast, almost a third of all children still do not go to primary school; workers' wages have been stagnant over the last three decades; and, in many parts of the region, poverty is increasing. The lesson is clear: if countries do not educate their children, they cannot compete in the global economy, they will not overcome poverty, and real de

Category: Economics - U