£5m donation establishes a new centre for research and learning on wealth concentration, inequality and the economy at UCL.
The James M. and Cathleen D. Stone Foundation has made a £5 million ($7 million) donation to UCL, to establish the James M. and Cathleen D. Stone Centre on Wealth Concentration, Inequality and the Economy. The gift and investment in the Centre by UCL supports the CORE (Curriculum Open-Access Resources in Economics) Project as well as research and education at UCL Department of Economics.
The mission of the Stone Centre is to advance research and teaching to provide a clear understanding of the causes of wealth inequality, and its economic and political consequences. It will bring together leading economic researchers on these issues from around the world.
Education and research are equal partners in the venture. The Stone Centre is pairing up the CORE project, which is transforming economics education around the world, with the research strengths of the UCL Economics Department. It will provide a global hub for research and learning that will make wealth concentration and its impacts on innovation and sustainability central to economics education.
The centre will be ‘cross-field’ in its scope - engaging with all areas of research the UCL Economics Department conducts - and span teaching from undergraduate to PhD, putting into practice the synergy of research and education from the outset. It will have the resources to fund small-scale buyouts, PhD students, post-doc positions, provide grants for data/research projects (via competitive calls for proposals), research visits etc. and workshops.
Photo: Stone Centre Co-Directors Wendy Carlin and Imran Rasul
The co-directors of the Centre are Wendy Carlin, Professor of Economics and Director of the CORE project and Imran Rasul, Professor of Economics and Co-director of the ESRC Centre for the Microeconomic Analysis of Public Policy at IFS.
Between September 2021 and March 2022, the Stone Centre will develop its plan of activities, including grant-giving for research projects.