Strategic Choices in Growth and Distribution: Shared Development

Abstract

Economic growth and fair distribution are two major goals pursued in economic development. Through a comparative analysis of economies such as those in Europe and the United States, it is found that: Economic growth does not have to be conditional on the expansion of income gap; growth will not automatically lead to fair distribution; efficiency and fairness can occur simultaneously; the transformation of the economic development mode can be achieved through income distribution. A shared development model that takes into account both growth and fairness is the choice to achieve sustained and stable economic growth. It is necessary to deepen the reform of the income distribution system, improve social security and other measures to promote the development achievements to benefit the majority of workers more, and achieve both efficiency and fairness at the same time.