AS per latest OECD Study, over the past decade, output growth in
developing countries and emerging-market economies has outpaced the OECD average
by a wide margin. However, opinion polls show that in some countries sustained
growth, rising living standards and human development have not necessarily led
to improvements in life satisfaction. To a large extent, this is due to growing
inequality, limited possibilities for participation in society, high youth
unemployment and persistent informality in the labour market, all of which
undermine social cohesion.
The OECD’s new Perspectives on Global
Development: Social Cohesion in a Shifting World shows that the time is now ripe
for the fast-growing countries to take advantage of their new prosperity to
advance an ambitious social cohesion agenda. This involves improving people’s
wellbeing, fighting against exclusion, and creating opportunities for upward
social mobility.
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