INSEAD RECEIVES US$2.5 MILLION GIFT FROM JAMES M. & CATHLEEN D. STONE FOR THE STUDY OF WEALTH INEQUALITY
The Stone Chaired Professor in Wealth Inequality, INSEAD Professor of Economics Mark Stabile, to lead the newly created research centre
Middle East, Asia, Europe
04 November 2016
INSEAD, the business school for the world, today announced a gift of US$2.5 million over 5 years from James M. and Cathleen D. Stone to bolster research on socio-economic inequality. INSEAD will establish a new centre in recognition of this gift and name it The James M. and Cathleen D. Stone Centre for the Study of Wealth Inequality. The centre will embark on an innovative five-year research agenda to investigate the dynamics, consequences, and solutions to growing wealth inequality at the top end of the income distribution.
“The creation of this Centre is timely as we reaffirm our belief that business can be a force for good. My sincere thanks and appreciation to James and Cathleen Stone for their generosity, which will enable INSEAD to become a leader in the research on wealth inequality,” says Ilian Mihov, INSEAD Dean and Professor of Economics. “The new research centre will be complementary to our new and innovative cluster of MBA courses on Business and Society, which aims at developing reflective and responsible leaders. We are confident that these new initiatives will further strengthen INSEAD’s commitment to promote economic and social transformation around the world.”
James M. Stone, founder, Chairman and CEO of the Plymouth Rock group of companies and author of U.S. bestselling book, Five Easy Theses: Commonsense Solutions to America’s Greatest Economic Challenges, and Cathleen D. Stone, President of the James M. and Cathleen D. Stone Foundation, share that, “With wealth and economic inequality widening across the world, there is a pressing and fundamental need for increased attention in this area. This is why we are supporting INSEAD and three leading U.S. universities to bring forth their own distinctive perspectives on this issue. We are confident that the extensive work of academia and thought-leaders in this field will eventually translate into policy developments aimed at improving lives.”
The James M. and Cathleen D. Stone Centre for the Study of Wealth Inequality will be led by INSEAD Professor of Economics Mark Stabile, appointed The Stone Chair Professor in Wealth Inequality.
Professor Stabile comments, “I am very grateful for this gift and excited to start working with my colleagues to carry out research on wealth inequality. We hope our research will contribute significantly to our understanding of how reducing wealth inequality might lead to improved social and economic outcomes.”
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