The Future of Inequality│Abhijit Banerjee(MIT, Professor of Economics)

Disparities in all areas of life - income and wealth, health, education, housing, and more - are growing and squeezing the lives of the majority. Inequality and polarization is a problem in both rich and poor countries. South Korea is no exception. South Korea's income/wealth imbalance has been sharply increasing over the past decade, leading to an extreme sense of self-doubt among those without assets (especially younger generations) that this life is doomed.
The inheritance of wealth, especially as baby boomers retire in droves after amassing the greatest wealth in human history, is likely to accelerate inequality in the future. In a world where inherited wealth, rather than individual effort and ability, is the primary determinant of an individual's life, some fear that income disparity could threaten social stability in the future.
MIT Professor Abhijit Banerjee is an economist who believes in "good economics in hard times. Winner of the 2019 Nobel Prize in Economics, he is leading the global discourse on inequality. In this session, he will be in conversation with Yoonjae Whang, Professor of Economics at Seoul National University, who has used econometrics to understand the causes and solutions to some of the most pressing socio-economic issues, including optimal asset allocation, income inequality, youth poverty, and aging. The session will offer insights into inequality, including whether blindly chasing high economic growth rates is desirable and whether a universal "basic income" is appropriate for South Korean society. #inequality
#abhijit #economics

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