Laura D. Tyson, director of the Institute for Business and Social Impact, spoke out on the link between economic growth and inequality at last week’s World Economic Forum in Davos, Switzerland. Here is a transcript and audio file from an interview she gave afterward.
Among her points:
*When asked whether inequality is likely to keep increasing, most people in the forum were resigned to the idea that it will. Few people even wanted to use the word “inclusive” in talking about the issue.
*Technology is probably aggravating inequality, but it isn’t getting enough recognition as a contributing factor. Tyson agrees that technology often creates new job opportunities, but says the trend of late has been for advances to create part-time, low-income jobs that displace full-time jobs — especially in service industries.
*On a more positive note, Tyson hears very strong support for the importance of increasing gender equality and for the view that gender equality contributes to stronger economic growth.