Leading experts, Paul Johnson and Nobel laureate Sir Angus Deaton, discuss the findings of their major study on inequality. They explore the impact of the pandemic, stagnant wages, declining life expectancy, and the unequal distribution of economic growth. The podcast also explores the interventions made by the state to address inequality, the challenges of taxing wealth effectively, resistance to change in the UK political system, and government actions to reduce inequality.

Sir Angus Deaton, a Nobel Prize-winning economist, delves into the evolving landscape of economics, expressing his reconsideration of foundational assumptions. He critiques the narrow focus on efficiency, discussing the intricate dynamics of globalization and poverty with contrasting case studies from India and China. Deaton emphasizes the need for a comprehensive approach to measuring poverty and challenges the effectiveness of randomized control trials. As he navigates through these complex topics, he advocates for an economics that integrates ethics and historical context.