Time to revisit the equity-efficiency debate
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11/10/2005
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Financial Express (New Delhi)
The recently published World Development Report 2006 revisits some of the concerns of development. Following closely on the heels of the Human Development Report 2005, it focuses on the increasing global inequalities and the need for direct interventions to reduce these. The reports argue that reduction of inequality contributes dire-ctly to economic efficiency and growth. Greater equity can thus lead to more efficient use of a nation's resources. By providing opportunities for education, access to health, and in short, an opportunity for achievements determined by talents and efforts rather than pre-determined circumstances, such as race, gender, etc, it is argued, convergence of the goals of equity and efficiency can be achieved.