INCLUSIVE DEVELOPMENT AS A MEANS OF REDUCING ECONOMIC INEQUALITY AND POVERTY AT THE MACRO LEVEL
Authors:   Open International University of Human Developmеnt «Ukraine», Pshenychna Mariia , Prisniak Serhii ,   Open International University of Human Developmеnt «Ukraine»
Published: January 2025

The article is devoted to the analysis of the concept of
inclusive development as an effective method of overcoming economic inequality and poverty at the macroeconomic level. The authors note that
economic inequality and poverty remain one of the key problems of the
modern world, creating serious obstacles to sustainable development.
According to data from the World Bank, almost half of the world's population
lives at the level of critically low incomes (less than 6.85 dollars per day),
which indicates the need to find new strategic solutions to combat poverty.
The article notes that inclusive development, unlike the traditional
approach, is aimed at ensuring equal access to resources and opportunities
for all members of society, regardless of their socio-economic status. This
can reduce economic inequality, increase social cohesion, promote
economic stability and increase overall well-being. Inclusive development is
also supported by such international organizations as the UN and the World
Bank to achieve the Sustainable Development Goals, which makes it an
important vector of modern economic strategies of national and global
systems.
The authors review the evolution of the concept of inclusive
development, highlighting five stages of its development.
Inclusive development offers an alternative to the traditional
economic model, which focuses on GDP growth, but does not take into
account the needs of different social groups. In contrast, inclusive
development aims to ensure equal opportunities and fair distribution of
economic benefits among all sections of the population, with an emphasis
on social justice, equality and sustainable development.
The authors also consider the main differences between traditional
and inclusive approaches to development. The traditional approach focuses
on rapid economic growth and often neglects social aspects, which can lead
to increased inequality and poverty. Inclusive development, on the contrary,
integrates social aspects into economic policy, which allows to achieve
long-term economic stability and social cohesion.
Key vectors of inclusive development, as noted by the authors,
include equal access to basic goods and services, improving the quality of
public administration, fighting corruption, equal access to education, antimonopoly policy and social support for the most vulnerable sections of the
population. For example, to ensure equal access to basic resources, it is
proposed to develop infrastructure, expand access to financial products,
and to overcome corruption, increase the transparency and accountability of
state institutions.
The conclusions of the article emphasize that the implementation of
an inclusive approach can become an effective means of solving socioeconomic problems at the macro level. The authors believe that inclusive
development creates conditions for equal access to economic opportunities
and resources, which contributes to reducing inequality, social cohesion
and economic stability.