Policy Lab: Why do Pope Francis, Warren Buffet and Bill Gates Worry About the Inequality Pandemic?

(1 Credit Hour) · Undergraduate

Economists used to believe that a certain level of inequality was the price of doing business in a market economy. They presumed that the clever entrepreneur should be rewarded for their ingenuity and ability to create value. Today, however, the world is seeing unprecedented levels of inequality and concentrations of wealth that are distorting markets, undermining democratic institutions, polarizing citizens, and driving increasing unemployment, homelessness and deaths of despair. Such concentrations of wealth have not been seen since the eve of the Great Depression. Suddenly, political leaders and economists are worried. Why? This course will try to answer the following questions: 1) what were the factors that have created the accelerating growth of inequality both domestically and globally?; 2) What are its most significant manifestations and impacts?; 3) And what is or must be done to address the challenges inequality poses both at home and abroad?