Social Investment and Economic Growth : A Strategy to Eradicate Poverty

This book argues with examples that absolute poverty is not an inevitable consequence of economic growth, that equitable economic growth is necessary to secure the eradication of poverty,and that the benefits of economic growth need to be invested in developing socio-political structures that can foster sustainable democracy and accountability.

This book argues with global examples that absolute poverty is not an inevitable consequence of economic growth, and that equitable economic growth is necessary to secure the eradication of poverty. The author contends that the benefits of economic growth need to be invested in developing social and political structures that can foster sustainable democracy and accountability and develop a mature civil society. Without such structures underpinning it, economic growth is unsustainable. To achieve the goal of development for all, labour-intensive growth must be accompanied by public investment in basic universal social services. With examples drawn from East Asia, sub-Saharan Africa, Patrick Watt offers detailed and realistic plicy recommendations for using wealth creation to meet the needs of those - one quarter of ther worlds population - who survive on less than one dollar a day. This book is one of a series which presents evidence that supports and develops advocacy work of Oxfam on behalf of poor communities.