[Citizen College] Inequality and Poverty, and the Role of the State

On May 25, 2018, the 6th lecture of “Citizen College: Citizens Between Life and Knowledge” was held by Seongbuk Village Citizenship Education Center and the Korea University Peace and Democracy Institute(PDI). The 6th speaker was Professor Yangho Rhee of PDI.

The topic of the lecture was “Inequality, Poverty and the Role of the State.” It was time to look at the phenomenon of inequality and poverty, which is becoming more severe in modern society, and to think about the role of the state about it. Firstly Professor showed how to calculate inequality and income disparity through the Gini coefficient, Palma ratio, and Piketty’s income inequality model. As a result, he said that about 1% of the world’s population has more wealth than the rest 99%. This wealth is inherited among the generations, and the inequality between the generations is becoming more and more fixed. Unlike the rich, the poor have “poverty culture,” but the rich have a “fear of equality,” fearing that they will be equalized by redistribution. In conclusion, Professor Lee emphasized that in order to alleviate this inequality, the role of the state is basically necessary. Now the way should not merely on giving rich people’s money to poor people, but to introduce appropriate minimum wages and basic income. (Summary: Moon-Hyung Lee)