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Globalisation and income inequality

  • Date(s)
    11 December 2007
  • Time
    8.30am
  • Location
    Policy Network, London

Danny Quah, head of the department of economics at the LSE, delivered a presentation on the impact of globalisation on income inequality in the developing world, at a special Policy Network seminar on Tuesday 11 December 2007.

Quah has made important contributions to the fields of economic growth, development economics, monetary economics, macro-econometrics, and more recently the weightless economy. His presentation reflected on his current work on growth and inequality in a global age.

Much discussion on present global patterns of trade focus on the rich, advanced economies currently in deficit. Those economies confront two potential dangers: rising within-country income inequality from global competition; and risk of economic downturn from a contraction in aggregate consumption. Widely debated are the putative domestic benefits of different policies to counter these dangers.

Much less discussed, however, are the risks from such policies for the other side of the world. The impact globally might be large and destructive, consigning to stagnation the currently surplus economies, ones that happen also to be relatively poor still. The result would then be a world with massively increased global inequality, arguably a steep price to pay for a bit more equality within the already-rich economies.

Background

The event is one in a series of seminars Policy Network is holding as part of an informal working group on globalisation and social justice.

Previous speakers in the series include Andrew Gamble, head of the department of politics at Cambridge University; John Kay, leading economist and author; Dr Waltraud Schelkle, lecturer in political economy at the London School of Economics; Stephany Griffiths-Jones, professor at the Institute of Development Studies at the University of Sussex; David Held, professor of political science at the London School of Economics; Richard Wilkinson, professor of social epidemiology at the University of Nottingham; and Will Hutton, the chief executive of the Work Foundation and author of The Writing On The Wall: Why We Must Embrace China.

The working group will take forward the work of Policy Network’s flagship globalisation and social justice research initiative, and will run until the end of 2007. The group will investigate the global dimension to domestic policy challenges, and will run alongside the programme of international dialogues that Policy Network is hosting this year in Chile, Australia, the United States and Brussels.

Please contact Elena Jurado at ejurado@policy-network.net with inquiries concerning this initiative.

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