From Equity to Growth

Amid the complexities of the global political landscape and current social unrest, this book offers a timely and insightful exploration of the intricate interplay between economic growth and social well-being. Drawing on compelling empirical evidence and theoretical insights, the authors present urgently needed ideas on how to move beyond the false dichotomy between entrepreneurial activity and equity. This work, a must-read for policymakers, academics, and concerned citizens alike, provides a revealing roadmap for building a more resilient and equitable global economy. -- Mariana Mazzucato, University College London, founding director of the Institute for Innovation and Public Purpose
Combining economic growth with equity is the holy grail of economic policy. As this book demonstrates, global discontent over inequality has increased even as the world has become wealthier, making the challenge more pressing than ever. The authors warn that this discontent can fuel short-term policies that undermine both growth and democracy. However, it can also serve as a wake-up call, paving the way for better policies. This insightful and useful book clarifies the choices that policymakers must make to guide us down the best path. -- Dani Rodrik, Harvard University, codirector of the Reimagining the Economy Program
Those of us who study and teach the economic and social evolution of Latin American countries have long been awaiting a book like this. In our region, low economic growth has coexisted with high economic inequality for centuries. There can be no disagreement about the existence of this unfortunate characteristic of our countries. The data speak for themselves. Discrepancies arise, however, regarding the causal relationship between the two problems and the policy recommendations to address them. The analyses and conclusions on this matter tend to fall into two opposing extremes, which have cyclically influenced public policies and, judging by the results, have failed. Ocampo, Malagón, and Narváez now offer us a third way that clarifies the simultaneity between low growth and inequality, as well as more promising prescriptions to overcome the Latin American trap of insufficient development. The relevance and timeliness of this work must be emphasized, especially as we mark yet another "lost decade" for Latin America. -- Ernesto Zedillo Ponce de León, Yale University, director of the Center for the Study of Globalization, president of Mexico, 1994-2000