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Equitable Capitalism or Bust

Two decades of economic crises have exposed the flaws of a system that has grown increasingly incompatible with sustainable development and equality of opportunity. To reform capitalism requires rethinking social welfare and how public policy can tackle inequality in all its forms.

PARIS – Global crises have grown in frequency and intensity over the past 20 years, with worrying implications for future economic development. The World Bank warns that the effort to reduce poverty has suffered its β€œworst setback” in a quarter-century, owing to the COVID-19 pandemic. Inequalities are deepening within and between countries, and across many key sectors, from education to health.