25 JANUARY 2023   

Widening income disparities are leading many economists and policymakers to question some foundational elements of our current economic system. Indeed, income inequality has ceased to be purely a problem of resource allocation, to be delegated to academia, and has rapidly emerged as a serious economic problem with the capacity to undermine the stability of our social and political order. The lecture will review some of the problems created by widening income disparities, both for policymakers and, more generally, for social cohesion and sustainable economic development. It will also explore several ways in which inequality could be mitigated over the medium term, all of them within the grasp of governments everywhere, particularly in the developing world, where inequality has especially undesirable consequences.

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