How inequality became the big issue troubling the world’s top economists

Mostly Economics

Steve Schifferes (Professor of Financial Journalism at  University of London (what a position!)) has a piece.  The piece is based on the recent Nobel meeting at Lindau where inequality was one of the central issues of discussion.

Every three years, all Nobel Prize winners in economics are invited to gather in the tranquil setting of the German island of Lindau to meet a selection of bright young economists and discuss the state of their profession. But this year such tranquility was challenged by worrying political developments across the globe. Perhaps unexpectedly, one of the central themes of the meeting became what to do about inequality.

While not all laureates would go as far as Jean Tirole, the 2014 Nobel Prize winner, who said that economic inequality itself is a form of “market failure”, it is clear that the political and social effects of growing inequality are drawing…

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