Economic Development New Zealand is holding its annual conference in Blenheim this week. The theme is “delivering inclusive growth” - but what does inclusive growth look like?
Investing in the workforce is the key to productivity, rather than thinking of it as a cost, says Todd Greene executive director of the Atlanta University Centre Consortium.
Photo: 123rf
Greene is one of the key speakers at the conference and he told Jesse Mulligan inclusive growth is designing and maintaining an economy so that everyone benefits.
"It really isn’t about picking winners and losers, it’s a way to ensure that everyone is able to enjoy some level of prosperity.
"Of course, that requires intentionality in ways that target particular segments of the population, whether it might be native individuals, or individuals experiencing disabilities – it’s ensuring that everyone benefits."
He says that within the United States they’ve seen an increase in the concentration of wealth and an increase in wealth disparity. He says this hampers growth because fewer people are able to participate in the economy.
Conversely, Greene says, the top 10 percent in the US enjoy an outsize access to politicians and policymakers.
He suggests one of the ways things could be improved is by having more workplace development for employees and framing it as an investment, rather than a cost.
New Zealand, Greene says, is in a vanguard of countries thinking about these ideas.
As for why people vote for politicians who entrench the unfair system, Greene believes people are catching on.
"In the United States we have workers that are beginning to understand they have not benefitted, despite seeing the stock market increase… they’re being squeezed in so many ways."
