Lack of social justice could lead to fall of governments

Date

2/10/2016 8:34:07 PM

(MENAFN- Khaleej Times)

Nobel Peace Prize awardee Mohammed Yunus cited lack of social justice as a primary reason for some governments failing and continuing to fail.

Bangladeshi social entrepreneur and economist who founded Grameen Bank a pioneer in microfinance was joined at the World Government Summit by a panel composed of former heads of state from France Libya and Ireland to discuss "Why Do Governments Fail?"

The discussion deliberated on the issues faced by governments and the reasons attributed to their failure. The panelists agreed that key issues were linked to public anger over the disproportionate distribution of wealth lack of public inclusion in policy decisions and the growing disconnect between governments and citizens' priorities especially the large section of youth.

According to Yunus human rights democracy and government institutions will continue to fail if nothing is done to correct the unequal distribution of the world's wealth where 62 people are wealthier than the bottom half of the entire world population.

"Six years back there were 388 people owning half of the world's economy now the number of (world's wealthiest) has decreased and the wealth has concentrated to a less number of people" Yunus pointed out.

"The world's economy is selfish-driven. We need to protect our civilisation otherwise if we allow this concentration (of wealth) to continue tomorrow will be worse" added Yunus. -

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