Blog Articles

On 29 September I attended a conference on inclusive growth in the European Union organised by the Brussels-based economic think tank Bruegel.

The conference gathered together politicians, policy makers, academics, civil society organisations, and business and trade union representatives to discuss this fundamental topic. Social Platform was also represented at the highest level by our president, Jana Hainsworth, which participated in the first panel discussions.

Many interesting points were raised, and while not everybody within our network would agree on the fact that growth will still be the main engine for economic and social progress in the 21st century – preferring instead to talk of sustainable development or even de-growth as the main path to respect planetary boundaries and promote inclusive societies – we welcome this general rethinking of our economic model and the fact that social policies and the fight against inequality are seen less and less as a costly historical legacy of our societies.

After decades of total faith in free market efficiency and rationality, of deregulation and of retrenchment of our welfare systems, there is indeed an emerging global consensus on the fact that there can only be sustainable and long-term growth if it is inclusive, otherwise there is a high risk of persistent stagnation. This has been repeatedly highlighted by the Organisation for Economic Co-operation and Development, the International Labour Organisation, the International Monetary Fund and the World Bank.

The European Commission has also acknowledged the long-term positive economic and social returns of investing in social policies and services in its recent proposal for a European Pillar of Social Rights. Social investment has a positive, preventive impact on people’s health and well-being, ensuring long-term savings for public budgets and improving the labour force’s skills. Supporting full participation in society and empowerment for all, it may also help people to regain faith in politics and in the EU project.

At Social Platform, we have been advocating for the introduction of common social standards at EU level, emphasising that inclusive societies are more resilient societies and recognising that this also ensures more resilient and better-performing economic systems.

Inclusive growth is not only about the most effective ways of promoting growth, but also about how the wealth produced is then distributed among members of our societies.

We simply cannot accept leaving part of our societies behind anymore. We need a new economic model that ensures every person’s fundamental right to live a life in dignity and fully participate in society, and that allows people to overcome this sense of instability that is spreading everywhere and to regain control over their lives and futures.

The political, social and economic cost of not doing so will simply be too high.

We therefore need an economic model that respects planetary boundaries and fairly shares wealth and income through adequate (minimum) wages, minimum income schemes and fair and progressive tax systems, closing existing loopholes that allow billionaires and multinational corporations to easily avoid and evade taxes. These are all elements of our position on social standards.

This new approach requires a real paradigm shift and a new vision for the development of our societies over the next 20-30 years. To succeed, we’ll need the contribution of all actors involved: politicians, policy makers, academics, civil society organisations, and business and trade union representatives . On our side, we are committed to making this change a reality, and we are ready to play our role.