If you haven't realized by now, my study playlist has heavily featured Kendrick Lamar this semester. In the opening song of his latest album, Lamar raps,
Though the artist is referring to people who are spectating but ultimately uninvolved with his controversial beef with a popular Canadian celebrity, this can also adequately sum up the reception of an Open Letter to the UN Secretary-General and President of the World Bank, published in July 2023, and its aftermath. It was co-authored by two economists and signed by over 200 notable people including fellow economists, educators, diplomats, and even current and former heads of state. The Guardian's Larry Elliott sets the scene pretty well. Here's a direct quote from the letter itself that describes the heart of the issue:
We know that high inequality undermines all our social and environmental goals. The 2006 World Development Report, as well as multiple other studies, have shown that extreme inequality of the kind we are observing today has a destructive effect on society. It corrodes our politics, destroys trust, hamstrings our collective economic prosperity and weakens multilateralism. We also know that without a sharp reduction in inequality, the twin goals of ending poverty and preventing climate breakdown will be in clear conflict.In the year since the publishing of the letter there has been negligible movement. The World Bank Shared Prosperity overview still declares "Improvements in Shared Prosperity have Stalled" as of October 2024. The UN reports a similarly bleak outlook for Sustainable Development Goal 10 (SDG10). Even more discouraging is the lack of improvement in the quality of data collected and analyzed to measure inequality since it was highlighted as a weak point. The infographic below paints a vague yet discouraging picture.
Indeed, there are many who would prescribe solutions to this international crisis of inequality while abdicating responsibility due to alleged impotence. However, nothing will be accomplished until power is appropriately leveraged where it can be exercised. My hope is that the people who were unaware of the international implications of inequality are inspired to organize. At this point it seems that only grassroots movements will move the needle since they're the only ones with the productive combination of numbers, power, and conviction.