Need for Economic Growth in Low-Income Countries

This lecture discusses the reasons for seeking to grow the GDP of low-income countries, focusing on reducing poverty, inequality, and environmental footprint. It explores the targets and achievements of MDG1, the conditions for growth to benefit the poor, and the importance of reducing inequalities. The relationship between growth and poverty, inequality, and resource use is analyzed, along with the impact of growth on different income groups. The Kuznets Curve theory and wealth concentration trends in the United States are also examined, highlighting the challenges of achieving inclusive growth and addressing income disparities.