Is economic liberty associated with income inequality? Does greater economic liberty imply higher GDP per capita but a more unequal income distribution? In this lecture Professor Leandro Prados de la Escosura addresses these questions looking across countries and over the very long run. On one hand more economic freedom secures property rights, favours competition, and creates opportunity for the less privileged. On the other hand economic freedom implies less redistribution though government intervention. In the long run there is no simple correlation but for some countries and periods there is a link between economic freedom and income concentration at the top of the distribution. The lecture offers explanations for this diverse historical experience.
Leandro Prados de la Escosura is Professor of Economics at Carlos III and for many years has been a leading light in European and world economic history. He is a former Head of the Department of Economics and Dean of Economics at Carlos III de Madrid. His most recent visiting appointments include the Leverhulme Chair at the LSE and the Maddison Chair at the University of Groningen. He was also one of the founders of the European Historical Economics Society and its president in 2001-3. Leandro has worked extensively on the economic history of Spain and its evolution since 1500. He has pioneered the development of national income estimates since early modern times, and has been involved in a range of international comparison projects. His work on long run trends has been influential and has stimulated discussion in the wider community of economists and economic historians. His latest book is Spanish Economic Growth, 1850-2015 (Palgrave Macmillan, forthcoming).
5.30pm Thursday, 16 Mar 2017End date:
7pm Thursday, 16 Mar 2017Venue:
Australian National University - Allan Barton Forum, Level 2 Building 26C Kingsley StreetPresenter(s):
Professor Leandro Prados de la EscosuraRSVP link: