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James and Cathleen Stone reaffirm their support for research and education in wealth and income inequality with new US$3.675 million gift

James and Cathleen Stone reaffirm their support for research and education in wealth and income inequality

Diversity, Equality & Inclusiveness

James and Cathleen Stone reaffirm their support for research and education in wealth and income inequality with new US$3.675 million gift

James and Cathleen Stone reaffirm their support for research and education in wealth and income inequality with new US$3.675 million gift

INSEAD, The Business School for the World, announced today that The James M. and Cathleen D. Stone Foundation has committed a new gift of US$3.675 million to endow the existing Stone Chair and to further support the research and activities carried out by The James M. and Cathleen D. Stone Centre for the Study of Wealth Inequality (Stone Centre).

Created in 2016 with James M. & Cathleen D. Stone’s generous first gift of US$2.5 million, the Stone Centre undertakes research and teaching in the dynamics, consequences, and solutions to growing wealth inequality at the top end of the income distribution.

This new gift boosts Mr. and Mrs. Stone’s earlier pledge and reaffirms their trust and commitment to research at INSEAD. It will enable the Stone Chair, now named The James M. and Cathleen D. Stone Distinguished Chair in Wealth Inequality, to become a permanent feature at INSEAD and help to continue to widen its impact.

INSEAD Professor of Economics Mark Stabile will remain as chairholder and as the Academic Director of the Stone Centre. He will lead the centre to continue spearheading innovative pedagogy and courses on wealth and income inequality for MBA students, shaping business education via support for postdoctoral fellows, engaging with alumni on diverse topics advancing the understanding of inequality, and thought leadership at INSEAD on this topic.  

The additional new funding aims to expand the Stone Centre’s research on economic and policy origins of income and wealth inequality, implications of economic inequality for social outcomes, behavioural and population-level implications of policy choices, and the potential for business to work with government to develop solutions.  

Other initiatives include the continued development of globally recognised cases, leading conversations through seminar series, and engaging with policymakers and industry experts on wealth and income inequality.

Professor Mark Stabile said,We are very thankful for James and Cathleen Stone’s sustained generosity. Growing inequality is one of the biggest societal, economic, and political challenges of our time, yet the dynamics, consequences, and solutions are not fully understood. I look forward to directing the Stone Centre in research progression in this area to make it the leading venue on the study of income and wealth inequality issues, and to mobilise the next generation of business leaders to take action and solve these societal challenges.”  

James and Cathleen Stone, added that, “The mission of INSEAD Stone Centre resonates with that of The James M. and Cathleen D. Stone Foundation – to promote a more knowledgeable and inclusive society, emphasising the mitigation of wealth inequality. We have seen huge strides in this area in the past decade, but we feel that so much more can be done. That’s why we are more committed than ever to pursuing cutting-edge research in this area for improved societal outcomes.

Ilian Mihov, INSEAD Dean and Professor of Economics, commented, “My sincere thanks to James and Cathleen Stone. Their gift is a strong reflection on how business can be a force for good. We are confident that these new initiatives will further boost INSEAD’s strength and position in leading important research, business education and conversations on this topic, creating a more equitable and sustainable future for all.”  

About INSEAD, The Business School for the World

As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas to develop responsible leaders who transform business and society. Our research, teaching and partnerships reflect this global perspective and cultural diversity.

With locations in Europe (France), Asia (Singapore), the Middle East (Abu Dhabi), and now North America (San Francisco), INSEAD's business education and research spans four regions. Our 162 renowned Faculty members from 40 countries inspire more than 1,300 degree participants annually in our Master in Management,  MBAGlobal Executive MBA, Specialised Master’s degrees (Executive Master in Finance and Executive Master in Change) and PhD programmes. In addition, more than 10,000 executives participate in INSEAD Executive Education programmes each year.

INSEAD continues to conduct cutting-edge research and innovate across all our programmes. We provide business leaders with the knowledge and awareness to operate anywhere. Our core values drive academic excellence and serve the global community as The Business School for the World.

Contacts for press: 

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Cheryl Ng
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Gwenaelle Hennequin
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