In 1965, the CEO to worker pay ratio was 20:1; however today the ratio is nearly 300:1 with many examples of CEOs earning much more. Will income inequality continue to widen or will it narrow? Does inequality serve an economic purpose? Is inequality good or bad? How does inequality affect the economy, society, and individuals? Should inequality be reduced, and if so, can anything be done? These questions are more nuanced than they may first appear. The issue of inequality is politically-charged, but the economic implications remain controversial. These issues and others will be addressed along with consideration of implications associated with widening and narrowing inequality.
Dr. David McClough is the James F. Dicke Associate Professor of Economics at Ohio Northern University. His research examines observed wage differentials, especially among highly educated workers. In addition to academic publishing, Dr. McClough’s commentaries have appeared in numerous newspapers and he currently serves as editor of the Journal of Economics and Politics.
The lecture was part of Lourdes Lifelong Learning program. Lifelong Learning is an educational program at Lourdes. It is open to all interested men and women, the only requirement for participation is an interest in ongoing learning.
Support for Knowledge Stream is provided, in part, by a generous gift from The Appold Family Charitable Trust.