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WKF: Universal basic income may not help ease disparity amid job migration : Paul Milgrom
Income disparity has widened further during the pandemic with the rise of automation, but whether a universal basic income may be a solution cannot be certain due to a shift in job skills, said 2020 recipient of the Nobel Prize in Economic Sciences Paul Milgrom. “We have already seen a considerable growth in the earnings gap over the last two decades, and the pandemic accelerates this trend” said Stanford University professor Milgrom during a live Q&A session at the 22nd World Knowledge Forum held in Seoul, Korea on Tuesday. Another driver to this polarization is artificial intelligence, he pointed out, which creates high-paying jobs in the tech sector, whereas low-wage workers are replaced by robots. To address the problem, a universal basic income (UBI) could be an answer, Milgrom agreed. “The UBI will be going to grow and become important. If human labor will be redundant with the growth of a permanent impoverished class, then we will have to make some changes like the universal basic income policy.” But he was cautious about how it will develop, noting that the government-guaranteed payment for every citizen is still being tested in countries. “Time will tell. It`s a little early to make a full call on this,” said Milgrom. He noted that the rise of new technologies has threatened traditional jobs but at the same time has created new jobs. Milgrom warned that current supply disruptions may continue to play out throughout next year despite a sharp economic recovery boosted by state spending and market reopening, which would bring a permanent change to the global supply chain networks. “We will continue to see some temporary and permanent changes as well, and our adjustment to the pandemic will take time. Companies are now seeking more robust and resilient networks to address supply chain vulnerabilities, and this is going to involve some permanent changes.” Touching on the global inequality in vaccine distribution between advanced and poor countries, the professor, best known for his contributions to the theory of auctions, said a market design cannot bring efficiency to vaccine supply, adding “it is a matter of politics not economy and therefore we have to get people comfortable with sharing quickly.” By Minu Kim[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]
2021.09.15
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WKF: Govts must go extra mile to achieve net-zero emissions: Nigel Topping
[Photo by Han Joo-hyung]Governments must ratchet up climate change mitigation drive and motivate the private and civilian sectors to join the goal of meeting net-zero emission by 2050, said Nigel Topping, British high-level climate action champion. “We should create a new architecture of climate cooperation, collaborating with non-state actors that have become increasingly powerful, in support of the three pillars of the Paris Climate Agreement: mitigation, adaptation and finance,” said Topping during a talk with Yoon Sun-jin, co-chair of Korea’s 2050 Carbon Neutrality Commission, on the theme of strengthening collaboration and driving action on climate change. “To achieve zero-carbon emissions as soon as possible, we need to bring out solidarity between 195 countries participating in the Paris Climate Agreement,” said the U.K. high-level climate action champion for the 2021 United Nations Climate Change Conference dubbed COP26 held in November While calling for collaborative initiatives across all industrial sectors, he underscored that cooperation and competition must go hand-in-hand in tackling climate crisis with countries around the globe competing with each other to set a benchmark. He encouraged Korea to ramp up its zero-emission goal as it has launched a task force to bid for the hosting of the 28th session of the Conference of the Parties (COP28) in 2023. [Photo by Han Joo-hyung]While congratulating Korea’s has fast achieved development as an “inspirational model,” its rapid development also has been accompanied with high emissions, he pointed out. He encouraged the country to go more proactive in nationally determined contribution (NDC) goal for 2030, where Korea vows to cut emissions 35 percent from 2018 levels to set a regional example by raising it to the levels of advanced economies. The U.S. has committed to a 52 percent reduction goal, the EU a 55 percent and the U.K. a 68 percent cut goal by 2030. Topping also pointed out the historical asymmetry as to who caused the emissions and who suffered the most and called for developed countries to allocate more funding to support financing climate change mitigation measures. COP26 is committed to delivering $100 billion every year in climate finance from developed countries to help developing countries, Topping said. By Lee Soo-min[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]
2021.09.15
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WKF: World needs to preserve order to reflect inescapable change: Mike Pompeo
[Photo by Han Joo-hyung]Calling South Korea a “scientific and technological force,” former U.S. Secretary of State Mike Pompeo praised Korea’s “prudent and multifaceted response” to the Covid-19 pandemic while sharing insights to the changing global order at the 22nd World Knowledge Forum that kicked off on Tuesday in Seoul. “We must use history as the means to map our planet’s future, but in doing so we must ingrain humility, for the future is never known and is most frequently predicted in error,” he said while stressing the necessity of preserving world order “in a manner that reflects inescapable change.” The virus spread has “ruptured” the world order, and in order to avoid similar pandemics in the future, the World Health Organization (WHO) needs to be “reformed and depoliticized,” he said. “Doctors, scientists and administrators must show allegiance to their mission and not to any government.” As Korea has excelled tremendously in the information age, he said “the world has watched in awe” for Korea to become a powerhouse in a new technological age in which a Fourth Industrial Revolution will occur. But he also warned about risks that the world is facing when the largest technology companies that “wield power that is greater than most nations.” He said their undue influence should be “curtailed under applicable national laws and conventions” to prevent these companies from posing a threat to democracy. [Photo by Han Joo-hyung]With regard to North Korea, the former Central Intelligence Agency (CIA) director said there will be “no certainties, only probabilities” to assume the intentions of the regime. To deal with North Korea’s mass destructive and nuclear weapon issues, it is important to “deal with the source of a problem directly,” he said, adding “Peace is always made with our adversaries, for there is no need to make peace with allies or friends.” He also expressed his desire that the Korean Peninsula could achieve harmony. “If reunification is ever to come, it must come from the will of the entirety of the Korean people, never through any conflict, particularly one that could involve weapons of mass destruction,” he said. The fall of Kabul and the destruction of the Afghan army are “assaults on the international system.” Calling for international action, he said “Afghanistan must not become a haven for terrorists, neither can it be ignored.” As we expect the urban population to increase sharply by the end of this century, he said nuclear energy is “mandatory” to meet the needs of such large populations. He said renewable energy can only be supplementary because of the intermittent production. By Choi Mira[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]
2021.09.15
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WKF musters wisdom to respond to global challenges of inequality, climate change
An education and work system focused to a “contributing justice” and social appreciation towards the contribution to the common good can help alleviate many of the inequalities the world commonly faces today and the future, according to renown guru on justice and Harvard University professor Michael Sandel. “The dignity of work consists of the sense of contributing to the work we do for the community good and how the community honors and appreciates the contribution to the common good,” said the professor as he addressed the global audience on the opening day of the World Knowledge Forum Tuesday, connected online from the United States with the Seoul podium shared by Korean political leaders Song Young-gil and Lee Jun-seok, chairs of the ruling Democratic Party and main opposition People Power Party. He questioned the effectiveness in social mobility mechanism and universities providing the ladder as higher education has become a kind of “sorting machine.” Instead of focusing on the people scrambling over the ladder to success, he envisioned a society where the “dignity of work” is appreciated as broader, democratic way of contributing to the common good and where the society honors and respects the contributions through everyday participations like recycling and joining donations to resolve inequalities. Governments, entrepreneurs, and intellectuals around the world must jointly muster wisdom in the face of increasing common challenges to the mankind – the pandemic and climate change havoc – of today and the unknown in the future, said Chang Dae-whan, Chairman of Maekyung Media Group, as he opened this year’s global debate platform earlier in the morning. “The human race was continuously affected by hunger, war, infectious disease and all sorts of many other crises, but we always managed to overcome these adversities and look for new opportunities towards a better future,” Chang said in his opening remark to Asia’s biggest intellectual forum running for three days from Tuesday online and offline under the theme of “Terra Incognita: Redesigning the Global Architecture.” “In the unknown land, ‘Terra Incognita,’ we will witness competitions we’ve never seen before. It will be fierce competitions, racing for the preoccupancy of Terra Incognita.” “No problem can be resolved by one single nation or one single company, so creating solid global cooperation networks will be the key to the success of our future.” In his congratulatory message to the opening event, President Moon Jae-in anticipated this year’s WKF forum and theme devoted to the unprecedented challenges the world and Korea together face would serve as “the map and compass” in the unchartered path. Welcoming former Secretary of State Mike Pompeo and Harvard University Michael Sandel and other speakers, Moon said the government together with the global audience would pay heed to their insights and discussions. Other notable experts sharing insights toward the new goal include Michael J. Sandel, an American political philosopher and the Anne T. and Robert M. Bass Professor of Government at Harvard University Law School. This year’s WKF is available through both online and offline sessions like last year. Fifteen free sessions including the opening ceremony and keynote speeches will be live-streamed on WKF’s YouTube channel and available on Naver TV, Twitter and Tik Tok Live as well. By Hye-seung Seo[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]
2021.09.15
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This year’s WKF offers beauty, space, and money talks for free
Free World Knowledge Forum (WKF) sessions will be available in the biggest scale this year. Young viewers would be interested in beauty talk between Korea’s famous makeup artist and beauty creator Lee Sa-bae and American professional makeup artist Bobbi Brown. Pamela Merloy, the 15th NASA Deputy Administrator, will deliver a lecture on the exploration program to the Moon and Mars. The free lecture schedule is available on WKF’s Instagram account and YouTube channel. [ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]
2021.09.15
World Knowledge Forum Secretariat
Maekyung Media Center, 190, Toegye-ro, Jung-gu, Seoul, Republic of Korea, 04627
Tel : +82-2-2000-2411~8Fax : +82-2-2000-2419
E-mail : ask@wkforum.org / knowledge@mk.co.kr
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