Centre aims to generate new insights about inequality and to mobilise business leaders and decision makers to resolving them
INSEAD, the business school for the world, today announced the launch of The James M. and Cathleen D. Stone Centre for the Study of Wealth Inequality, which was established in recognition of James M. and Cathleen D. Stone’s gift to the school.
Led by Mark Stabile, INSEAD Professor of Economics and The Stone Chaired Professor of Wealth Inequality, the Centre will focus its research on income and wealth inequality which has been listed as the biggest risk to the global economy in the World Economic Forum’s annual global risks report.
“We would like to thank James and Cathleen Stone again for their generosity. The two-fold mission of the Centre is aligned with INSEAD’s belief that business is a force for good. Through our research and teaching, we look forward to cultivating responsible future leaders who can positively impact societies and hope we are one step closer to resolving one of the greatest challenges faced by the world today,” Mark Stabile says.
Stabile’s recent research explores the connection between inequality and social mobility as well as the relationship between inequality and publicly financed programmes. It examines potential solutions including a basic income, improvements to education and health as well as redistribution of public resources, in order to preserve innovation and manage inequality and severe labour market disruption.
James M. Stone, founder, Chairman and CEO of the Plymouth Rock group of companies, says that, “Accelerating overconcentration of wealth is among the world’s thorniest problems. To help assure it receives the increased attention it requires, I have set up teaching and research programmes at four top flight universities. INSEAD is among them because enlightened business executives, as well as government and academic leaders, will need to be part of the solution. There are few, if any, places in the world comparable to INSEAD in its worldwide reach and influence on the next generation of business leaders. I am very pleased with the new Centre’s beginnings and have high hopes for its contribution.”
By convening a global interdisciplinary team of scholars from across INSEAD, including professors, postdoctoral researchers and research fellows, the Centre will take a novel approach to examine the impact of the top one percent of wealth in countries and communities around the world. The insights and learnings of its research activities will directly funnel into the creation of innovative courses on income and wealth inequality at INSEAD. This will also strengthen the school’s agenda in its “Business and Society” super course to better prepare students in addressing pressing global issues.
The Centre will launch its first MBA elective course “Income Inequality and the Future of Business” in spring 2018. Taught by Ilian Mihov, INSEAD Dean and Professor of Economics, Mark Stabile and Kaisa Snellman, Assistant Professor of Organisational Behaviour, the course will explore macro trends in income and wealth inequality as well as the connection between inequality, growth and social cohesion. It will explore the role of business in increasing and managing inequality as well as other solutions to one of the largest challenges today.
Through research and creation of new courses and curriculum at INSEAD, the Centre targets to change the way MBA participants – future business leaders – think about and potentially solve income and wealth inequality problems.
To find out more about The James M. and Cathleen D. Stone Centre for the Study of Wealth Inequality, visit insead.edu/centres/wealth-inequality.
