Shared Prosperity and Inequality
On 9 November, the Department of Economics will welcome C Marks Professor at Cornell University former Chief Economist and Senior Vice President of the World Bank (2013-2016), Professor Kaushik Basu to deliver a lecture on ‘Shared Prosperity and the Need for a Visible Hand.’
While the number of people living in absolute poverty worldwide has declined over the last several decades, inequality, measured in several different ways, has risen, fuelling conflict and social disquiet. Shared prosperity is the idea that the distribution of income and well-being deserves attention in itself. This lecture will provide the broad numbers concerning how the world and various nations have done, and analyse the connection between poverty and inequality. It will then go into the broader political ramifications of what is happening and discuss options of what we may do to combat some of the more adverse trends.
Prior to this lecture, there will be a workshop that will critically examine the concept of shared prosperity, its theoretical foundations, measurement and operationalization. If you would like to attend this workshop, please contact Dr Ajit Mishra.
The public lecture will be followed by Professor Basu’s receipt of an honorary degree from the University of Bath. This honour celebrates both his outstanding work in the field and the University’s 50th Anniversary year.
This event is open to all.