Equity and Economic Development: What's the Connection?

<p>There is a renewed interest among many public officials in figuring out how to address intractable economic inequities that continue to exist in the U.S.   In response, the UNC School of Government’s Public Executive Leadership Academy (PELA) now includes a session on equitable growth and development, which I co-teach along with my faculty colleague Tyler Mulligan. The traditional economic development profession is also beginning to pay closer attention to the “wicked problems” of economic disparity and income inequality.  The International Economic Development Council (IEDC) recently formed a committee to help identify promising strategies to promote equitable prosperity and has been addressing equity concerns in workshop sessions as part of its annual conference the last couple years.  IEDC plans to release a major report on the topic in the coming months.  What’s the latest thinking about economic inequality and equity issues?  What are the implications for economic development policy, strategy, and practice?</p> <p>While not an entirely new phenomenon, the extent of economic disparity and income inequality in the U.S. has been better documented in recent years.   For in-depth data analysis see studies conducted by the Economic Policy Institute, Center on Budget and Policy Priorities, and Federal Reserve Bank of Atlanta.   A major take-away from this research is that income and wealth are increasingly concentrated among the richest five percent of households.  An analysis prepared by the Urban Institute examines some of the factors that are thought to perpetuate wealth inequality.  It is important to note, that much of the research and policy analysis on inequality [...]</p>