In a lecture co-organised by Birkbeck Politics and Shadow Chancellor John McDonnell, Nobel Prize-winning economist Joseph Stiglitz speaks on the growth of economic inequality in the USA and UK over the last 30 years. Median incomes in the USA have stagnated, Professor Stiglitz explains, with a real decline in incomes among full-time male workers being observed over the last four decades. He describes that there are now more people in poverty, more wealth is concentrated among those at the top and that the middle classes are being 'eviscerated'. Professor Stiglitz concludes that, fundamentally, "inequality is bad for business, bad for the economy, bad for our democracies, and bad for society".
Professor Stiglitz is introduced by Birkbeck Professor of Public Policy Deborah Mabbett. His talk is followed by a Q&A chaired by Shadow Chancellor and Birkbeck alumnus John McDonnell.