DescriptionSustainable Development Goal 8 is on “fair and equitable distribution of income and wealth.” It is one of the final 17 Sustainable Development Goals that were set forth by the United Nations in 2021. The SDG is very important because it is the last word on the issue of distribution of wealth. So if a nation fails to meet this requirement, they are deemed to be indicted of being uncooperative and lacking in their obligations to human development and environmental preservation.
One of the reasons that I like the Fair and equitable distribution of income and wealth, is because it is so important to economic development. Without them, it is impossible for people to thrive and make the levels of advancements we see today possible. Without a reasonable allocation of resources, it becomes impossible for people to purchase the goods and services that they need or require. They have no purchasing power. The poor receive less for what they work hard to acquire.
But as I mentioned earlier, the SDG isn't enough. This is why the developing nations around the world are so adamant in their pursuit of having every individual have the opportunity to enjoy development and live a decent life. The development goals include educational improvement, health care access, empowerment, and micro and macro indicators of economic prosperity, all of which will help people live better lives. However, without the implementation of these necessary economic development goals there will not be any true progress made in the areas of social and economic development.
People don't want to work anymore. In the developed world, people are working longer hours and for longer salaries. The demand for goods and services is also increasing, making it difficult for companies to provide these products and services. They are forced to hire people to do the work for them. This results in unemployment, underdevelopment, and poverty. Without development, the quality of life for people gets deteriorated.
This brings us to another problem that is often overlooked by development practitioners and analysts. This is the issue of uneven development. Some countries experience rapid economic growth, while others struggle to catch up because of their weak economy and high dependence on natural resources. A nation that relies on natural resources like petroleum and natural gas is not really doing well when it comes to decent work and economic development.
For instance, this might seem like a relatively obvious observation. But if you look at the recent development in Brazil, you will see the problem. There, the government spent a huge amount of money on development projects only to discover that most of the resources did not benefit the local population. Most of these projects were later abandoned, which only worsens the problem.