World Economic Forum released Global social mobility index Report on 20th january 2020. Only 82 countries all over the world have almost all the right conditions for social mobility and India posited in 76th out of them. It has been found that European countries are more socially mobile all over the world.
Social mobility refers to change in social status of a person within the siciety. It is measured in terms of certain parameters necessary to create equal oppurtunities for all in the society irrespective of his socio economic background which includes major 5 dimensions such as :
- Education ( scope, quality, equity)
- Work oppurtunities, conditiins, wages etc.
- Social protection & institutions.
The report encompasses the following :
- Denmark is the most socially mobile country and stood first in the ranking with 85 points. The rest top nine includes Finland, Norway, Sweeden, Iceland, Netherlands, Switzerland, Austria, Belgium & Louxembourg respectively.
- Germany is most socially mobile country amomg the G7 countries, occupiying 11 th position. Next to it comes France in 12th followed by Japan (15th) , UK (21st), US (27th) and Italy in 34th position.
- Considering the large emerging economies Russian Federation acquired 39th by scoring 64 points. Behind is China in 45th followed by Brazil (60th), India (76th) and South Africa in 77th.
The report also essentially mentioned the countries to gain most from increase in social mobility. In this con‐ text they placed China in the top and then US, India, Ja‐ pan & Germany. China’s economy is potentially capable of growing by an extra 103 USD billion a year and that of US could be by almost USD 87 billion a year.
India’s performance in lifelong learning (41st ) and working conditions ( 53rd ) is much better in comparison to social protection ( 76th) and fair wage distribution ( 79th) where they have scope of improvement.
The report also brought out the fact that most socially mobile economies always tends to laid emphasis on effective social policies that is beneficial for communities and could also make a platform for healthy & competitive economies but in case of developed and organised economies it is just opposite and they tend to focus on ” shareholder value naximisation” and ” state capitalism” which is less effective in respect to this concept of Social Mobiltty.
So it urged for such a financing model where tax progression would be given the utmost priority and greater emphasis are advised to be given upon the factors of social spending. Policies are to be framed and structured in such a way that it necessarily reduce wealth concentration.
The WEF said that a society with equal oppurtunities for all irrespective of socio economic background would make a society healthier with less inequality, and ensure economic growth and fulfilled lives.