The 2016 Fidelity CEO conference featured a roundtable on the topic of wealth inequality, a topic as timely in Cayman as anywhere else in the world.
Panelists discussed the value of having all of society care about ensuring that those at the bottom of the economic ladder have access to minimum standards of wages, education and health care access.
“It’s not just a risk for the immigrants, not just a risk for the underclass,” said Goldman Sachs global economist Dambisa Mayo, “It’s a risk for all of us because there is absolutely no way that we can go to the supermarket, or go and watch the movies, or have the life we would like to live when our neighbors are living in a situation where they may have to resort to crime just to survive.”
The panel discussed how students and lower skilled workers can benefit by having access to a good education and relevant training that leads to hiring. Otherwise, living in a country with the 14th highest GDP in the world will be overshadowed by having one-fourth of the country’s workers making less than $1,200 per month.