Die drei Dimensionen der Ungleichheit

LAGUNA BEACH – Auf der kürzlich beendeten Jahrestagung des Internationalen Währungsfonds und der Weltbank traten durchaus einige Bruchlinien zutage. Zu den auffälligsten zählte dabei das unterschiedlich ausgeprägte Interesse der Teilnehmer an Diskussionen über Ungleichheit und den fehlenden formellen Aktionsplan der Regierungen zur Lösung dieses Problems. Dies stellt ein tiefgreifendes Versagen politischer Voraussicht dar – dem man sich umgehend widmen muss. 

Für dieses gesteigerte Interesse bestehen gute Gründe. Während sich die Ungleichheit zwischen den Ländern verringerte, ist sie innerhalb der Industrie-  und Entwicklungsländer gleichermaßen gestiegen. Untermauert wird dieser Prozess durch eine Kombination aus säkularen und strukturellen Aspekten – wie etwa die veränderte Art des technischen Fortschritts, den Aufstieg von Anlagecharakteristiken nach dem Alles-oder-Nichts-Prinzip und politischen Systemen, die die Wohlhabenden begünstigen. Konjunkturbedingte Kräfte befeuern diese Entwicklung weiter.

In den Industrieländern liegt der Ursprung des Problems in einer beispiellosen politischen Polarisierung, die umfassende Reaktionen verhindert und  die Zentralbanken im Übermaß belastet.  Obwohl Währungsbehörden über mehr politische Autonomie als andere Institutionen der politischen Entscheidungsfindung verfügen, fehlen ihnen die nötigen Instrumente, um den Herausforderungen gerecht zu werden, vor denen ihre jeweiligen Länder stehen.

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