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Hayek Programme Online Webinar Series

Evaluating Contemporary Inequality Trends and Statistics

Phil Magness (AEIR)

Wednesday 05 February 2025 18:00 - 19:30

Many of our seminars and public events this year will continue as in person or as hybrid (online and in person) events. Please check our website listings and Twitter feed @STICERD_LSE for updates.

Unless otherwise specified, in-person seminars are open to the public. Please ensure you have informed the event contact as early as possible.

Those unable to join the seminars in-person are welcome to participate via zoom if the event is hybrid.


About this event

Dr Magness will critically examine the widely accepted U-curve narrative of inequality popularized by Thomas Piketty, Emmanuel Saez, and Gabriel Zucman. This narrative depicts a high level of inequality during the late Gilded Age, followed by mid-20th century leveling and a sharp rebound since 1980, with tax policies identified as key drivers of these shifts. Proponents of this view advocate for significant tax increases to address contemporary inequality and associated social challenges.

Drawing on his recent research, Dr Magness will argue that this narrative rests on a flawed interpretation of the history of income taxation in the United States. He will present evidence that the U-curve’s most prominent features are statistical artifacts resulting from historical changes to the federal tax code and its effects on income and wealth estimates, rather than reflecting actual shifts in economic inequality. By proposing an alternative explanation, Dr. Magness will challenge prevailing assumptions and shed light on the methodological complexities of inequality measurement. This event will provide an opportunity for a nuanced discussion of inequality trends and their implications for public policy.

Dr Phil Magness is a Senior Fellow at the Independent Institute and the David J. Theroux Chair in Political Economy. He has served as Senior Research Fellow at the American Institute for Economic Research, and as Academic Program Director at the Institute for Humane Studies and Adjunct Professor of Public Policy in the School of Public Policy and Government at George Mason University. He received his PhD from George Mason University’s School of Public Policy.

The online webinar series of the LSE Hayek Programme will feature academic scholars or policy experts on a range of interdisciplinary topics that are related in some way to the intellectual contributions of F.A. Hayek.

These include individualism and economic freedom, the nature and future of liberal democracy, social justice and welfare, decision-making under radical uncertainty, macroeconomic management, the rule of law and justice, and others.

All sessions will be conducted on Zoom, lasting 1.5 hours, with a structured format of 45 minutes for speaker presentations followed by a 45-minute Q&A session. Additionally, for those unable to attend live, all webinars will be recorded for later access.

Events in the series will begin in March 2024, usually held one Thursday each month, from 6pm - 7:30pm unless otherwise stated.

For further information please contact Bryan Cheang, by email: b.cheang@lse.ac.uk.