Professor Branko Milanović started the day with his distinguished ECFIN lecture in which he described the development of inequality over time. His renowned 'Elephant graph' showed how Western middle class incomes stagnated in the last three decades, in contrast to Western upper class and Chinese middle class incomes.
Three sessions addressed subsequently the tension between globalisation and inequality by looking at growth, employment, and structural reforms. For instance, Jonathan D. Ostry (IMF) argued that inequality leads to lower and less durable economic growth. Other discussions focused on how policy actions related to gender balance, minimum wages and labour market reforms can target inequality.
European Commissioner Pierre Moscovici concluded the conference by chairing a policy panel on the main theme. He stressed that although economic growth is back, it is insufficient to fight poverty and inequality, and that the EU should foster inclusive growth. In this respect, the panellists emphasised the importance of working conditions and of Europe's fight against tax evasion.
Distinguished ECFIN Lecture in honour of Sir Anthony B. Atkinson
Session I: Going together: growth and inclusion in globalised economies
Session II: Inequality and the new world of work
Session III: Policy designs and structural reforms for inclusive growth