We live in an era of great technological and economic change. For some, this heralds a time of unparalleled possibility and prosperity. But for others — millions, both around the world in our own neighborhoods — there’s a very real feeling of being left behind.
Earlier this week, the Aspen Institute and Mastercard’s Center for Inclusive Growth hosted the Global Inclusive Growth Summit. The meeting brought together leaders and thinkers from the private sector, governments, and nonprofits to look for scalable solutions at work in the world of equitable growth, and to celebrate the people and policies that are tackling these issues today.
The sessions were packed with people passionate about creating a future that includes us all, and one moment in particular underscored that dedication. The two convening organizations announced a partnership — anchored by a $26 million investment from Mastercard — that will help power a new Institute initiative to build an inclusive global economy. The newly formed Aspen Partnership for an Inclusive Economy (APIE) will combine the ideas, talents, and resources of the public, private, and nonprofit sectors to address income and information inequality — and, in the words of Aspen Institute President and CEO Dan Porterfield, “Help change the structures that hold people back.”
This partnership will allow us to integrate our strengths in policy, practice, leadership, convening, and ideas, says @DanPorterfield
The $26M investment from Mastercard will help power a new Institute initiative to build an inclusive economy: https://t.co/zZRyuMd03H #GlobalIGS pic.twitter.com/djaMEzS2n3
— The Aspen Institute (@AspenInstitute) October 21, 2019
If you want to promote inclusive growth, you first have to think about what “inclusive” means. Staci Warden, Executive Director of the Center for Financial Markets at the Milken Institute, compared an inclusive economy to a party. “I want to argue against this idea that inclusion means we get to invite people to OUR party. Inclusion means… we understand that the party is only a good party if all of these people are included.”
“I want to argue against this idea that inclusion means we get to invite people to OUR party. Inclusion means and is beneficial if we understand that the party is only a good party if all of these people are included.” @StaciW_DC speaks live: https://t.co/UQS9DwwFOh #GlobalIGS pic.twitter.com/nn0ksmweHg
— The Aspen Institute (@AspenInstitute) October 21, 2019
In the US, “in the world’s richest country, with a growing economy, with rising education levels, rising productivity, growing capital markets, and growing corporate profits,” we are at risk of becoming a low-wage nation. David Rolf, the founder and president emeritus of SEIU 775, shared economic realities facing America’s working families.
“Unfortunately, too many facts speak for themselves. We are at risk of becoming a low-wage nation.” – @DavidMRolf speaks on the current state of the economy and what we need to do to change it.
Tune in live: https://t.co/UQS9DwwFOh #GlobalIGS pic.twitter.com/HNIBQJqcgm
— The Aspen Institute (@AspenInstitute) October 21, 2019
“It’s real simple — if there’s no inclusion, there’s not going to be any growth,” said Mitch Landrieu, Former Mayor of the City of New Orleans.
“It’s hard to have upward mobility when the system has a foot on your throat,” Former Mayor of the City of New Orleans @MitchLandrieu talks about locally-led inclusive growth solutions.
Tune in live: https://t.co/UQS9DwwFOh #GlobalIGS pic.twitter.com/gBcGXQhEC7
— The Aspen Institute (@AspenInstitute) October 21, 2019
In excluding people from banking, for instance, we limit their ability to invest capital, and many of the Summit speakers want to address that problem. Chetna Sinha told the origin story of Mann Deshi Bank,which works to help women in India open secure savings accounts.
Watch @chetnavsinha, founder of Mann Deshi Bank & Foundation, tell the story of how her bank’s license was rejected as it was starting.
Tune in live: https://t.co/UQS9DwwFOh #GlobalIGS pic.twitter.com/fNoJRZTtUM
— The Aspen Institute (@AspenInstitute) October 21, 2019
Neville Crawley of Kiva spoke about the “morally unacceptable” global problem of a billion people who are outside of the system — and he suggest some solutions.
It should be morally unacceptable in 2019 to exclude people from systems just because they don’t have a bank account or ID, says @nevillecrawley of @Kiva. They’re working to dramatically change that, all in just two years.
Tune in live: https://t.co/UQS9DwwFOh #GlobalIGS pic.twitter.com/1fHtjxLpuu
— The Aspen Institute (@AspenInstitute) October 21, 2019
It’s not just monetary capital that’s being excluded, either. There’s massive human capital that’s going to waste. When changemakers exclude the people who are most affected by the world’s problems from the conversations about solving them, the most important perspectives are left unheard. But when we enlist women, minorities, and people from other cultures in creating solutions, we all benefit, argued Jean Case of the Case Foundation.
“At the end of the day, what entrepreneurs do, they solve problems. And they tend to solve problems they have lived or lived close to,” @jeancase of @casefoundation speaks on innovation and why it needs to be inclusive. Tune in live: https://t.co/UQS9DwwFOh #GlobalIGS pic.twitter.com/T3ggHHk5PR
— The Aspen Institute (@AspenInstitute) October 21, 2019
Exclusion is deeply ingrained in the systems that run our society. Sometimes, the results are visible to the naked eye. This is the case in New Orleans, where structural racism behind city planning decisions impacted the federal highway system, as Asali DeVan Ecclesiastes of the New Orleans Business Alliance explained.
Rick Jacobs of @USAccelerate speaks with Asali DeVan Ecclesiastes of @NewOrleansBA about the federal highway system as a very real example of structural racism and poverty.
Tune in live: https://t.co/UQS9DwwFOh #GlobalIGS pic.twitter.com/a4pTxzi586
— The Aspen Institute (@AspenInstitute) October 21, 2019
In other cases, an exclusive system is less obvious. It’s there in the way we think about employment and ability, said Byron Auguste of Opportunity@Work.
At the #GlobalIGS @OpptyAtWork’s CEO @Byron_Auguste speaks about how the economically excluded are invisible in the barriers they face, and the talent and contribution they bring. pic.twitter.com/VFlH7iCOKc
— Mastercard Center (@CNTR4growth) October 21, 2019
Exclusion also leads to political upheaval, including the growth of Nationalism, according to the “no longer a diplomat” Madeleine Albright (watch this entire session for a glimpse of Albright’s frank and hilarious assessment of the world today).
“If my identity hates your identity, then it becomes nationalism. And hyper-nationalism is very dangerous,” says @Madeleine. She goes on to makes the audience laugh, stating “I am no longer a diplomat.”
Tune in live: https://t.co/UQS9DwwFOh #GlobalIGS pic.twitter.com/wvGADkFkgg
— The Aspen Institute (@AspenInstitute) October 21, 2019
So what can we do? It starts with taking a stand, according to Andrea Jung of Grameen America, which works to empower women entrepreneurs.
“If you do not take a stand on an issue, you’re tone-deaf. It’s creating an urgency to do the right thing.” –@AndreaJung9 speaks on responsibility and activism live: https://t.co/UQS9DwwFOh #GlobalIGS pic.twitter.com/TGrHL5XmfI
— The Aspen Institute (@AspenInstitute) October 21, 2019
As is the case with many problems, the first steps are recognizing the issue and deciding to do something about it. This Summit, and the creation of APIE, are the next big steps. In the words of Porterfield, “We all have a moral imperative to take action on economic inequality and ensure that no person is left behind, that no idea is left uncovered and that no collaboration is left untapped.”