JAMES M. AND CATHLEEN D. STONE DONATE US$2.5M FOR THE STUDY OF WEALTH INEQUALITY
The substantial gift from James M. Stone, founder and CEO of the Plymouth Rock group of insurance companies and author of 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, will be used to bolster research and teaching on economic inequality.
In recognition, INSEAD has established 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 Jim and Cathy Stone for their generosity, which will enable INSEAD to become a leader in the research on wealth inequality,” said Ilian Mihov, INSEAD Dean and Professor of Economics.
“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 mitigating unproductive economic inequities,” said Mr. and Mrs. Stone.