“Business today seems to be serving itself and not humanity. Economies are made up of people and for people. Because we’ve forgotten that, there is an inequality problem,” said global sustainability expert, Ms. Janice Lao, at July 31’s webinar as she discussed the corrosive problem of economic inequality. Besides expecting governments and businesses to solve the problem, Janice challenged scholars to think about what they can do with their careers for the betterment of society. “The talents and skill sets that you have had the privilege to acquire are not for you to use alone. Take advantage of the opportunities you have to really make a difference in the world.”

Session Notes

1:22-1:53 Introduction of speaker
2:07-6:44 Who owns and contributes the most in the economy?
6:45-13:53 Research on economic inequality
13:54-20:34 What is economic inequality and how does it manifest?
20:35-25:02 What are the impacts of economic inequality?
25:03-27:17 7 pillars of middle class society is under threat
27:18-28:54 The middle class and education
28:55-30:21 Income share comparison
30:22-32:51 Millennials and Gen Z: may end up poorer than their parents
32:52-40:43 Eroding of trust in institutions and its impacts
40:44-41:52 What we need to do?
41:53-42:48 Business has to be in service to humanity
42:49-1:05:08 Q&A

Download the presentation slides here.

What can be done about the world's growing economic inequality problem? Find out more about what Janice shared at her webinar through Chan Wai’s eye-catching graphic recording!