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All on Board

Making Inclusive Growth Happen

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All on Board: Making Inclusive Growth Happen puts forth a new approach to economic growth that goes beyond traditional monetary indicators and includes dimensions that reflect people's well-being. It introduces an analytical framework to assess economic growth based on a measurement of multidimensional living standards. The report also presents win-win policies that can deliver stronger growth and greater inclusiveness in areas such as: macroeconomic policies, labour market policies, education and skills, infrastructure and public services and development and urban policies. It underscores the need to assess and weigh trade-offs and complementarities between and among policies, and the crucial role of good governance in implementing an Inclusive Growth agenda.

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Overview

What is Inclusive Growth? How can policies be designed and implemented to address rising inequalities and spur stronger economic performance? This chapter responds by providing an overview of the analysis and policy recommendations developed throughout the remainder of the report. In particular, the chapter illustrates the case for Inclusive Growth, reviewing trends of widening inequalities, and recognising that economic growth is not an end in itself, but a means to promote societal well-being. This leads to an outline of the OECD’s approach to Inclusive Growth, premised on the importance of addressing multidimensional inequalities, and on recognising that they impact different groups in different ways. The implications for policy design are then examined, engendering the central insight that all economic and social policy choices should have the twin objective of promoting equity and enhancing growth. The ramifications for policy implementation are also considered, with emphasis placed on the importance of appropriate governing institutions and stakeholder participation.

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