Addressing the adverse consequences of inequality
Speaker
In many advanced economies, including the UK, progress towards a fairer society appears to have stalled. Deep structural forces – including weak earnings growth, rising wealth divides, regional disparities and declining social mobility – are reshaping life chances and fuelling political discontent. Drawing on the IFS Deaton Review of Inequalities, this lecture examines the dimensions of inequality spanning income, work, wealth, place and health.
It will focus on three key challenges: the entrenched inequalities in wealth and housing between generations and places, the gap in skills and human capital among those with low levels of educational attainment, and the extreme regional divides that are increasingly harmful to both social mobility and productivity. This inaugural John Hills Memorial Lecture argues that tackling these concerns requires going beyond redistribution through the tax and benefit system. It demands a new approach to work, skills, and innovation, with a focus on policies that shape opportunities before inequalities take root.
Meet our speaker and chair
Richard Blundell is David Ricardo Chair of Political Economy at UCL. He was the founding Director of the ESRC Centre for the Microeconomic Analysis of Public Policy at IFS. He was editor of the Mirrlees Review: Tax Reform for the 21st Century, and currently of the Deaton Review: Inequalities in the 21st Century. President of the European Economics Association, the Econometric Society, and the Royal Economic Society. He was Knighted in 2014 for services to Economics.
Francisco H G Ferreira is the Amartya Sen Professor of Inequality Studies at LSE, where he is also Director of the International Inequalities Institute. His work on the measurement, causes, and consequences of inequality and poverty in developing countries has been published widely and awarded various prizes, including the Richard Stone Prize in Applied Econometrics and the Kendrick Prize from the International Association for Research in Income and Wealth.
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The International Inequalities Institute at LSE brings together experts from many of the School's departments and centres to lead cutting-edge research focused on understanding why inequalities are escalating in numerous arenas across the world, and to develop critical tools to address these challenges.
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