Committee
General Assembly Second Committee - ECOFIN
Country
Germany

Author

Felicia Siahaan
Indonesia

Cite as https://mymun.com/ppdb/9625

GERMANY ON REDUCING ECONOMIC INEQUALITY AND FINANCING SUSTAINABLE ECONOMY

Country: Germany

Committee: General Assembly-The Economic and Financial Committee (ECOFIN)

Topic Area: Reducing Economic Inequality and Financing Sustainable Economy

Causes

Income inequality is an ongoing issue that the international community has been fighting for centuries. Despite being the largest economy in Europe and the fourth largest by nominal GDP in the world, 12.5 million people in Germany still suffer from poverty. Unfortunately, this does not happen merely in Germany, but in a much greater magnitude: the world. The root cause is the inefficient allocation of resources, which includes inadequate financial system, insufficient skilled labor force, fraudulent government, and inappropriate policies.

Reflecting from history, the inability to adjust to changes with respect to time, which results into unmonitored progress in p...