This lecture introduces the modern economic theory of inequality of opportunity in simple terms and explains that it is often seen as the “modern currency of egalitarian justice.” The event then provides concrete illustrations of the concept, before assessing the performance of a number of rigorously evaluated human capital investment policies, including early childhood development interventions, conditional cash transfers, teacher training, and others. Both the promise and the shortcomings of these policies are discussed.

Professor Francisco H. G. Ferreira is the first visiting Dr. Elizabeth Chopin professor this academic year. Ferreira is an esteemed economist known for his work on inequality and poverty in developing countries, particularly in Latin America. He is the Amartya Sen Professor of Inequality Studies at the London School of Economics (LSE), where he is also Director of the International Inequalities Institute. His academic contributions have earned him awards, including the Richard Stone Prize in Applied Econometrics and the Kendrick Prize from the International Association for Research in Income and Wealth.