Peking University, Nov. 16, 2018: On the evening of November 14th, Nobel Economic Laureate in 2000, professor James J. Heckman from the University of Chicago, delivered a lecture entitled “An Effective Strategy for Reducing Inequality and Promoting Social Mobility by Creating Skills” in Dongxu Academic Lecture Hall. More than 200 students, teachers and alumni of Peking University attended the event.
Before the speech, Dong Zhiyong, dean of the School of Economics, presented Heckman with a certificate of Honorary Professor on behalf of Peking University. Next, Professor Heckman interacted with the faculty representatives of School of Economics with great interest and encouraged the students of the School to study economics hard and develop critical thinking ability.
Issuing the certificate
Heckman’s Message to the students
In his keynote speech, Heckman first pointed out that the supply of middle-skilled labor, which has expedited the rapid growth of China’s economy over the past 40 years, was drying up. The aging society and increasing dependency burden, he said, has become a serious issue for China; cultivating a highly skilled workforce would not only help address the current population challenge, but also improve social mobility in the long run and reduce inequality resulted from rapid income growth and unbalanced regional development.
The lecture
Heckman said that rural migrants has become a driving force for China's economic growth, yet the floating population also caused problems like the difficulties of nurturing left-behind children. He stressed that skills-oriented policies would help address a range of issues on poverty, inequality, social mobility and so on. The gap of skills between socio-economic groups was formed in its infancy, but skills could be cultivated and enhanced through sustained investment and environmental improvements.
Heckman giving the speech
Heckman presented evidence to prove that early-stage interventions aiming at improving skills were effective. In his view, skills are not merely limited to years of education or intelligence test scores, but also related to one’s personality and interpersonal skills, which measure individuals’ noncognitive abilities. Family circumstances and parenting style played far more critical roles in shaping personal traits and skills than money, stressed Heckman. Heckman then introduced world-renowned programs of early intervention and their proved long-term effectiveness.
During the question-and-answer session, Heckman and the attendees had a heated discussion about parenting and early childhood development.
A Brief Introduction of James J. Heckman
James J. Heckman is an American economist who is currently at the University of Chicago, honored as the Henry Schultz Distinguished Service Professor. In 2000, Heckman won the Nobel Prize in Economics for his work on the micro-econometrics of diversity and heterogeneity.
Written by: Harper Lee
Edited by: Wei Yunqi, Wang Qian
