Demographic, economic, and technological trends are making the world increasingly “flat” with respect to consumption. By supporting this shift, government and private-sector leaders can help to create a more cohesive, sustainable, and inclusive future.
NEW YORK – Discussions about economic development often focus on how to increase income equality. More recently, however, thoughtful observers have begun to regard consumption equality – the equal use of goods and services – as a more robust indicator of parity in human wellbeing. After all, it more accurately captures inequality as people experience it when they consume, and consumption can be affected by borrowing and saving, as well as by social safety-net programs.
NEW YORK – Discussions about economic development often focus on how to increase income equality. More recently, however, thoughtful observers have begun to regard consumption equality – the equal use of goods and services – as a more robust indicator of parity in human wellbeing. After all, it more accurately captures inequality as people experience it when they consume, and consumption can be affected by borrowing and saving, as well as by social safety-net programs.