simoni

Sustainable development goals number 1 and number 10 are about poverty and inequality respectively. Economists and policy-makers know well that these two are very different subjects. A country or a city can reduce poverty while increasing inequality. In fact, this is exactly what has happened in many countries (at different levels of development) in the last 30 years. This is what has happened globally as well. Overall poverty has been drastically reduced: some estimates suggest 1 billion people have come out of poverty. Inequality, on the other hand, has increased under all metrics.
Therefore, it is challenging to address these two themes simultaneously in one commentary. However, there is I think one lesson from our recent past that is often overlooked, which can also come to be very useful in the months to come, when the real impact of the COVID-19 global crisis on economies will manifest itself.

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