Social Science

   

Globalizing Common Prosperity (a [ Proposal] for Equitable Global Development)

Authors: Yew Kee Wong

As we stand firmly within the third decade of the 21st century, the global landscape presents a stark and undeniable paradox: unprecedented technological advancement, interconnectedness, and aggregate wealth coexist with profound and persistent inequalities that fracture societies and destabilize nations. While the post-WWII era lifted billions from absolute poverty, the prevailing model of globalization, often prioritizing unfettered market expansion and short-term gains, has demonstrably failed to ensure that the benefits of progress are broadly and equitably shared. Vast swathes of the global population remain marginalized, denied access to basic necessities, quality education, healthcare, and dignified livelihoods, while simultaneously facing existential threats like climate change, pandemics, and resource depletion that disproportionately impact the most vulnerable. This deepening chasm between the privileged and the excluded is not merely a moral failing; it is the primary source of social unrest, political polarization, mass migration, and geopolitical friction that now define our era. Consequently, the pursuit of common prosperity — a state where sustainable economic development is intrinsically linked to social inclusion, environmental stewardship, and shared opportunity for all, within and across borders — transcends mere aspiration. It emerges as the single most urgent, complex, and defining challenge of our time. Addressing it demands a fundamental reimagining of global cooperation, economic systems, and governance structures, moving beyond outdated paradigms to forge a genuinely equitable and resilient future for humanity.

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[v1] 2025-10-04 17:45:58

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