“Focusing exclusively on growth and assuming that its benefits will automatically trickle down,” the report says, “may undermine growth in the long run.” But, policies that help in “limiting or—ideally—reversing the long-run rise in inequality would not only make societies less unfair, but also richer.” Specific policies discussed include “raising marginal tax rates on the rich … improving tax compliance, eliminating or scaling back tax deductions that tend to benefit higher earners disproportionately, and … reassessing the role of taxes on all forms of property and wealth.”
In his message to the International Labour Conference, Pope Francis said that “the sheer numbers of men and women forced to seek work away from their homelands is a cause for concern. Despite their hopes for a better future, they frequently encounter mistrust and exclusion, to say nothing of experiencing tragedies and disasters.”
TVET recommendations to government.
…”the key idea is to develop economic policies that improve quality of life without expanding consumption. These policies include methods to reduce resource use, limit inequality, fix the financial system, create meaningful jobs, and change the way we measure progress.”
…”the evidence for a relationship between economic growth and job creation is much weaker than you would expect and varies remarkably between countries.”