The tale of two cities : turning rhetoric into reality

Income inequality is the topic of the day globally, throughout the nation and in New York City. The World Economic Forum’s Global Risks 2014 report notes that “Widening gaps between the richest and poorest citizens threaten social and political stability as well as economic development.” In his 2014 State of the Union address, President Obama said “…corporate profits and stock prices have rarely been higher, and those at the top have never done better. But average wages have barely budged. Inequality has deepened.” Here in New York City, Mayor de Blasio was elected in large-part due to his criticism of “the two New Yorks” and his promises to work to combat the increasing income disparity in this city. What will it take to turn de Blasio’s rhetoric into reality? Can he substantially improve life in New York City for the nearly 2 million residents living below the poverty line? Can he protect and restore the disappearing middle class? Can the Mayor accomplish all of this without alienating Wall Street and other industries crucial to the city’s economy? Can he keep the city solvent and avoid a repeat of the catastrophic budget failures that have plagued the city’s past? The Sustainability Practice Network and Baruch College’s Robert Zicklin Center for Corporate Integrity convene a panel to address these questions and more.