ECONOMIC OPPORTUNITY, EQUITY AND DEVELOPMENT: Study from LSE on how in recent decades the widening pre-post WW2 wealth distribution in the West has been reversed, and the top 1% (even top 0,01%) have been grabbing a disproportionate share of national wealth, with the middle class increasingly squeezed. In PNG many may have developed what might be called middle-class attitudes and aspirations in recent years, but economic opportunities remain limited and housing inaccessible and largely unaffordable, so conventional economic characteristics of middle-class largely remain inaccessible. With LNG project(s) only providing a handful of jobs directly, once the construction phase is over, its critical than the benefits are efficiently shared, not simply by a rentier group of landowners/landowner leaders or a few in govt grabbing the biggest retained slice, but by these projects reinvesting (notably through govts share of tax and income) in reliable infrastructure and other public goods to open up economic (and some social/welfare) opportunities for other businesses and the rest of the community...which also depends upon Govt performing its regulatory functions effectively and impartially in ensuring standards and competition...
Posted on: Sun, 30 Nov 2014 02:48:28 +0000
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