Socio-economic inequalities in Southeast Asia: Some implications for researchers in the Medical and Social Sciences
Dr. Gus O’Donnell, Cabinet Secretary to the British Government from 2005 to 2011, now one of the leading world economists, has urged governments to adopt a “new, comprehensive metric for national and global progress and prosperity, one that tells us whether people really are better off- and how to ensure that they are.” The metric is known as ‘gross domestic wellbeing’. O’Donnell argues that ‘national output’, if used as the measure of ‘policy success’, leads to increasing inequality of income and wellbeing. The Global Financial Crisis revealed this to be true (O’Donnell, 2014). In the period 2007-10, the world witnessed the total collapse of large financial institutions, bailout of banks, downturns in stock markets, and the failure of key businesses. These disasters led to evictions, foreclosures, and prolonged unemployment. The effects of the Crisis continue to be felt throughout Europe and North America, particularly (Davies, 2008).
Davies, E. (2008). Banks and how to break them. BBC Documentary, January 14, 2008. Retrieved from www.globalissues.org/article/768/global-financial-crisis .
Legatum Prosperity Index. (2013). Retrieved from wikipedia.org/wiki/Legatum Prosperity Index.
O’Donnell, G. (2014). Value of gross domestic wellbeing. Bangkok Post, Vol. LXVII, No. 86.
World Bank. (2012). Retrieved from data.worldbank.org/indicator/SI.POV.NAHC, March, 2014.
World Health Organization. (2013). WHO Report for 2013. Retrieved from www.who.int/whr
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