On March 25th, Prof. Joseph E. Stiglitz, 2001 Nobel Laureate in Economics, Professor of Columbia University, Honorary Professor of Tsinghua University had a dialogue with students on the topic of “Causes and Consequences of Growing Inequality” at SPPM. This was his fifth time visiting SPPM. Nearly 300 participants from and outside of Tsinghua University attended the lecture.

This event was moderated by Prof. CUI Zhiyuan, Director of Institute of China Studies, Prof. HU Angang, Prof. WANG Hui from the School of Humanities and Dr. DING Ningning, Researcher from Development Research Center of the State Council, Former Minister of Social Affairs, also exchanged views as commentators.

Prof. Stiglitz stated that inequality has been growing within most countries around the world. The level of inequality differs among countries, and he believed that the level of inequality is not only a matter of economy, but also affected by policies and politics. Then he analyzed the causes and consequences of inequality from the perspective of economy, policy and politics. He summarized that growth and equality should not contradict with each other, and one can gain more growth and at the same time enjoy more equality.

Then the three commentators shared their opinion based on Stiglitz’s speech. Prof. HU Angang indicated that the level of inequality began to decline in China. Prof. WANG Hui suggested that as the world's second largest economy, China should surpass the U.S. to become one of the most equal societies in the world, and it is a big challenge to us. Finally, Dr. DING Ningning pointed out that realizing equality is a long way to go.

Prof. Stiglitz also interacted with the audiences who raised questions about laws and regulations, market economy and inequality in education and so on.

Joseph E. Stiglitz is a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank, and is a former member and Chairman of the Council of Economic Advisers.