Word: okun
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Arthur M. Okun, speaking in the second of his Godkin lectures, told a crowd of 150 people at the Science Center last night that equality in these areas would bring increases in both the equity and the efficiency of the American economy...
...Okun said in order to improve the equality of our income distribution, we must recognize that the race for income is not always fair because factors of family background and innate abilities give some a head start...
...Okun's third and last lecture on "Equality and Efficiency: The Big Tradeoff' will be given tonight...
...theme of Okun's three-part series is "The Trade-Off between Efficiency and Equity." In the remaining lectures Okun will discuss ways in which the maximum amounts of equity and efficiency can be achieved...
...Okun is a graduate of Columbia and a former professor of economics at Yale. He served on the Council of Economic Advisors during the Johnson Administration and served as council chairman in 1968. Okun is currently a fellow at the Brookings Institute...