UNH Whittemore School of Business and Economics

UNH Department of Economics, WSBE

 

"Does Growing Pay Inequity Harm the Middle Class?"

Author of "The Winner-Take-All Society" Will Speak at UNH May 3

By Janet Lathrop
UNH News Bureau

April 26, 2002


DURHAM, N.H. -- Robert Frank, professor of economics, ethics, and public policy at the Johnson Graduate School of Management, Cornell University, will speak about how more Americans are competing for fewer and bigger prizes and why this may encourage economic waste, income inequality and a poorer cultural life Friday, May 3 at the University of New Hampshire's Whittemore School of Business and Economics.

Frank, co-author of the book, "The Winner-Take-All Society," will discuss whether growing pay inequity harms the middle class in Rm. 318, McConnell Hall from 12:40 to 2 p.m. on campus in Durham.

Frank and his co-author, economist Philip Cook, Duke University, believe that the recent surge of what they call "winner-take-all" markets -- in which a handful of top performers enjoy a disproportionate share of the rewards -- may explain the rising trend of income inequality. Once common only in the performing arts and professional sports, winner-take-all markets have now penetrated every part of our nation's economy, including business and management. Frank and Cook argue that the widening economic gap between haves and have-nots in American society is closely tied to the growth of competitive forces, the rise of a global marketplace and modern technology.

According to reviewers, their book exposes the negative consequences we are experiencing in a society which provides less and less room or reward for "second place."

Frank's speech is one of a series of economics seminars at the Whittemore School organized by Karen Conway, associate professor of economics.


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