On September 9, the DKU Finance Club invited Milind Kumar to discuss finance inequality. Kumar began his talk by defining and contrasting income inequality with financial inequality. He emphasized that while income inequality is temporary, it can correct itself over time. In contrast, financial inequality encompasses generational implications and extends beyond individual control, exerting a profound societal influence.
According to Kumar, financial inequality entails opportunity imbalances and adverse impacts. Mr. Milind illustrated this by investigating inadequate insurance and healthcare policies in underdeveloped nations. Less investment from individuals with fewer financial resources leads to diminished returns. On the other hand, corporations are equipped to employ more personnel and swiftly advance. The overarching consequence is the perpetuation of wealth for the affluent and poverty for the less privileged. However, it’s not merely about income; it encompasses opportunities, resources, prospects of future generations, and education. Even with comparable incomes, disparities emerge from unequal access to services.
In his pursuit of solutions, Mr. Milind advocated for the growth of blockchain technology. Widespread blockchain accessibility will unlock many investment opportunities, generating more employment avenues. Additionally, he proposed the establishment of global fund connections, enabling demand to circulate on a worldwide scale. In essence, Mr. Milind championed using technology to redefine the future and foster a more equitable environment through globalization.
Following the lecture, Mr. Milind offered his guidance and expectations to the students. He reminded us of the valuable educational services we are privileged to receive, urging us to cherish these conditions and instil unwavering belief in ourselves. He encouraged students to persevere through challenges, utilizing our education as the cornerstone for future service of an even greater calibre.
Author: Ruimeng Zhou
