Instead of presiding over an economic system that panders to big business and a wealthy elite, a more human economy must be established which meets the needs of African women and young people.
Interpretation
We need an economic system that prioritizes the needs of marginalized groups, particularly African women and youth, rather than serving only the wealthy elite.
Winnie Byanyima advocates for a shift in our economic approach, urging the establishment of an economy that serves the basic needs of the most vulnerable populations, such as African women and young people. This quote highlights the importance of creating equitable systems that do not simply cater to large corporations and affluent individuals, but rather focus on nurturing the welfare and empowerment of those who have been historically sidelined in economic discussions.
In practice
This quote can be used in discussions on sustainable development at conferences.
High corruption and the influence of big business and the wealthy elite keeps the poorest Nigerians trapped in poverty and cut off from the benefits of economic growth and basic services. Some people - searching for the means to survive - became vulnerable to groups like Boko Haram.
African countries lose billions every year because of tax dodging by big corporations and wealthy individuals. They lose billions more from overly generous tax incentives in a misguided belief that this is the only way to attract foreign investment.
The high price of medicines is crippling healthcare systems and denying people access to the treatments they so desperately need.
The discrimination of women and girls goes to the core of any and all analyses of the world's economic, political, and environmental problems.
Inequality, climate change, and conflict are evicting millions from their homes. But these perils are being met with 'anti-answers' such as nationalism, closed borders, lies, and hatred.
We don't want to tell young girls and boys that the odds are stacked against them from the start. Instead, we could tell them that with passion, conviction, and determination we can build a better future. This future is possible by redesigning our economy to truly reward hard work rather than wealth.
When you bring in multi-brand retail items into the country, you're not just bringing the products, but you're also harming local manufacturers.
With the exception of the instinct of self-preservation, the propensity for emulation is probably the strongest and most alert and persistent of the economic motives proper.
I get heartfelt thanks from all kinds of people. Today I heard from a waitress in Georgia who has lost her job and is trying to figure out how her local bank can change the terms on her credit card, and I heard from a physicist at a major research university who wants to explain a better theory of financial stress tests.
People want economy, and they'll pay any price to get it.
History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.
Lenders, including major credit companies as well as payday lenders, have taken over the traditional role of the street-corner loan shark, charging the poor insanely high rates of interest.
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