Dean Richard Locke opens the symposium by welcoming attendees and highlighting the mission of the newly launched Stone Center at MIT, which focuses on understanding and addressing wealth inequality, especially as it relates to job quality and the impact of technology like AI. He emphasizes the importance of interdisciplinary approaches and warns that unchecked technological change could worsen inequality, but expresses optimism about the center’s potential to promote greater equity and inform responses to global challenges.
The event opens with Simon Johnson, co-director of the Stone Center for Inequality and Shaping the Future of Work at MIT, welcoming attendees and introducing his fellow co-directors, Daron Acemoglu and David Autor. Johnson humorously notes his lack of a tie compared to his colleagues and expresses his privilege in introducing Dean Richard Locke. He provides a brief overview of Locke’s distinguished career, highlighting his roles at MIT, Brown University, and Apple University, as well as his commitment to bridging theory and practice in management education.
Dean Richard Locke begins his remarks by welcoming everyone to the symposium on “Why Wealth Inequality Matters,” organized by the James M. and Kathleen D. Stone Foundation and the Shaping the Future of Work initiative. He congratulates the co-directors on the recent launch of the Stone Center and expresses enthusiasm for its mission. Locke reads the center’s mission statement, emphasizing its focus on analyzing the forces behind growing income and wealth inequality, particularly through the lens of job quality and labor market opportunities for workers without a college degree.
Locke underscores that the Stone Center aims to identify innovative ways to move the economy toward greater equity. He believes that MIT is uniquely positioned to tackle these challenges, given its strengths in interdisciplinary research and its commitment to addressing pressing societal issues. He notes that this symposium is the first in a planned series of annual events focused on wealth inequality and technology, reflecting the center’s ongoing commitment to these topics.
The dean highlights the importance of understanding not just the causes of inequality, but also its broader implications for society and politics. He points out that today’s discussions will draw on perspectives from economics, philosophy, sociology, and political science, embodying MIT’s dedication to fostering intellectual synergy across disciplines. Locke stresses that the issue of wealth inequality is especially timely, given the current inflection point in the development of artificial intelligence.
Locke warns that, if left unchecked, AI is likely to exacerbate inequality, but he is optimistic that the Stone Center’s leadership is exploring ways to chart a more human-centric and worker-friendly path. He also references the global challenges to liberal democracy and the rise of authoritarian regimes, noting the direct connection between these trends and increasing inequality. Concluding his remarks, Locke expresses his excitement about the day’s program and the distinguished panel of speakers, and he warmly welcomes all participants before turning the proceedings back to Simon Johnson.
