KEYC - The 52nd Nobel Conference: "In Search of Economic Balance."

The 52nd Nobel Conference: "In Search of Economic Balance."

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Academics from Duke, Princeton, Vanderbilt, Oxford and the University of Chicago have come to St. Peter to talk about the role inequality has in how the world works, and to debate what it actually means.

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Gustavus Economics Professor Larry Wohl - "I think there's certainly room for argument. What does inequality mean? How do you measure it? Is it good, is it bad. It's a question that for a lot of economists - no one is going to find the right distribution.

It seems to be a balance issue. Most people are [not] comfortable with the idea that we're going to take from this set of people and give to that set of people because that causes some potential problem, but can we do something that will help those that are really struggling to get along?"
 
Chris Farrell, editor for American Public Media's Marketplace Money - "There's this term - living wage. I don't particularly like it, but it does connote that notion of - it's not just that you have a job and income. But that it's a job that allows you to be creative. To have some fulfillment.

That's the big challenge in our society and we're seeing that play out in the Presidential election of despair that's in certain parts of our society.

There are groups of people, whether it's inner-city Baltimore, parts of Muskogee, Oklahoma, that are excluded from our economy and they don't feel that there's promise and they don't feel there's hope for their children. It's about bringing people into the economy, into the job market."

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The conference will continue tomorrow, with its fourth lecture starting at 10 a.m. at the Lund Center.

And they already have next year's subject picked out:
 
Nobel Conference Director Lisa Heldke - "The topic is Reproductive Technologies - How far can we go? And we have the slate of speakers already lined up."

-- KEYC News 12.