On Monday 8 September 2014, CEP hosted the only economics session in the British Science Festival. Presenting their work on the "Economics of Inquality" were John Van Reenen on the 99%; Brian Bell on Top Pay of the 1% and Barbara Petrongolo on Gender. Members of the public listened and discussed the findings with the presenters at the University of Birmingham.
Link to British Science Festival website
Professor Janet Hunter has written an insightful biographical piece on STICERD's founder Michio Morishima which will be published as part of the series Britain & Japan: Biographical Portraits (volume 9) by Renaissance Books. The book contains essays from several contributors relating to distinguished personalities who have been influential in political, economic and cultural relations between the two countries.
Michio Morishima was a renowned Japanese economist and mathematician, and according to Professor Hunter, "the closest Japan has yet come to having a Nobel prizewinner in economics". He was Sir John Hicks Professor of Economics at the LSE from 1970–88 and became an Honorary Fellow in 1991. He received honorary degrees from the universities of Paris (X), Siena and London, as well as emeritus professor status at both Ōsaka University and LSE. In 1976 he was awarded the Bunka Kunshō (Cultural Order of Japan).
Earlier this year, Janet Hunter, who is Saji Professor of Economic History at LSE and STICERD, was honoured by the Japanese gorvernement with the Order of the Rising Sun, Gold Rays with Neck Ribbon for her contribution to Japanese studies and promoting Japan-UK understanding.
Professor Maitreesh Ghatak, EOPP director, and Professor Debraj Ray from NYU published their analysis on the question of wealth in India. The country, poorer than the world average, has %3 of the world's multimillionaires and %17 of the world's population. The authors try to answer the "real question" of "whether the country has more than its expected share of multimillionaries" by looking at data on wealth distribution in the world. To read this article click here.
On 18th July 2014 the final report was launched from a year long research project conducted by the London School of Economics for the London Borough of Newham into the impact of debt and the experience of life on a low income.
The rising cost of living, stagnant wages and welfare reform have placed many households under increased financial strain. This report, commissioned by the London Borough of Newham and written independently by Professor Anne Power, offers a powerful insight into the lives of some of the hardest pressed people in our country. This research highlights the struggle of both working and non-working households and explores the relationship between financial planning and skills and attitudes to credit and debt. The report also provides a valuable insight into the real impact of welfare reforms and helps to inform Newham’s ongoing work to strengthen resilience.
panel discussion was held with Polly Toynbee (Guardian), Vidhya Alakeson
(Resolution Foundation), Professor Anne Power (LSE) and Sir Robin Wales (Mayor
of Newham). The discussion considered the drivers and solutions to increasing
levels of personal debt and what can be done locally, nationally and within the
community to build economic resilience. The London Borough of Newham also
outlined its plans to respond to the analysis in the report.
Watch an interview with a Newham resident who took part in
Watch an interview with a Newham resident who took part in the research.