KCPL Speaker Series On Economic Policy
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Kansas City Public Library
Sinquefield Charitable Foundation
TITLE OF LECTURE: Income Inequality, Human Capital and Economic Growth
The growth in income Inequality is one of the major policy issues of our time. Professor Murphy will discuss the economics behind the rise in income inequality and what it tells us about the forces driving modern labor market outcomes. Long-term changes in the relative demand for high- and low-skilled workers, and in our nation’s ability to supply the types of skills needed in the modern economy, play a central role in shaping what we have seen and provide significant insight in to where we should look for solutions.
GUEST SPEAKER NAME: Kevin M. Murphy, George J. Stigler Distinguished Service Professor of Economics, University of Chicago Booth School of Business
Kevin M. Murphy is the George J. Stigler Distinguished Service Professor of Economics at the University of Chicago Booth School of Business. He is the first professor at a business school to be named a MacArthur Fellow. He was selected for "revealing economic forces shaping vital social phenomena such as wage inequality, unemployment, addiction, medical research, and economic growth."
He is co-chair at the Becker Friedman Institute for Research in Economics at the University of Chicago. He focuses on the institute’s outward-facing activities, including public outreach programs and development.
Murphy is a faculty research associate for the National Bureau of Economic Research. He primarily studies the empirical analysis of inequality, unemployment, and relative wages, as well as the economics of growth and development and the economic value of improvements in health and longevity.
A fellow of the Econometric Society and an elected member of the American Academy of Arts & Sciences, Murphy was a John Bates Clark Medalist in 1997. He has received fellowships from the Earhart Foundation, the Sloan Foundation, and the Friedman Fund.
More than 60 of his research papers have been published in academic journals, including the Journal of Law and Economics, the Journal of Political Economy, and American Economic Review.
He is the coeditor of Measuring the Gains from Medical Research: An Economic Approach, with fellow Chicago Booth faculty member Robert H. Topel. Murphy is also coauthor of Social Economics: Market Behavior in a Social Environment, with the late Gary S. Becker, Nobel laureate and Booth professor.
In 2007, Murphy and Topel won the Kenneth J. Arrow Award for the best research paper in health economics for "The Value of Health and Longevity."
Murphy earned his PhD in 1986 from the University of Chicago after graduating from the University of California at Los Angeles with a bachelor's degree in economics in 1981. He joined the Booth faculty in 1984.