1945

Equality, sustainability and well-being in the sphere of consumption

image of Equality, sustainability and well-being in the sphere of consumption

Over two decades ago, ECLAC coined the term “empty box” to refer to the fact that no country in the region had been able to combine economic growth with significant progress towards equality (Fajnzylber, 1992). At the same time, ECLAC was revisiting its traditional thesis on consumption patterns that emulated those of the upper classes and it was suggested that more equitable societies could mean a more austere consumption pattern capable of promoting higher levels of saving and thereby greater long-term growth. And, in fact, unlike what has occurred in Asian countries, in Latin America economic growth periods have been characterized by sharply climbing consumption.

Related Subject(s): Economic and Social Development
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