Constructor University and University of Cape Town Conclude Joint Wealth Data Science Summer/Winter School 2024
Constructor University recently concluded the Wealth Data Science Summer/Winter School (WeDSSS) 2024, held from July 1-12. This unique educational program and research incubator, which was hosted on campuses in Bremen, Germany, and Cape Town, South Africa, brought together participants and experts to use data science to tackle the pressing issue of wealth distribution. It emphasized the critical importance of understanding wealth distribution in addressing economic inequality, social polarization, and environmental degradation.
WeDSSS aimed to explore how digital data can supplement traditional wealth data, providing new insights into where, when, how, and why wealth is produced and reproduced. The school investigated the potential of digital data to improve wealth comparisons across different countries and social groups, highlighting the global significance of wealth concentration. Topics covered included the creation of different wealth classes through innovation and intellectual property rights, the reproduction of wealth within families and geographies, their (de-)legitimation through the perception of wealth in the general population, and the redistribution of wealth via taxes and transfers.
The program featured lectures, hands-on projects, and workshops led by experts Hilke Brockmann, Jan Lorenz, Murray Leibbrandt, and Vimal Ranchhod. Highlights included keynotes by Mike Savage from the London School of Economics on the racial wealth gap as well as lab sessions on large language models (LLMs), OSINT techniques, multiple correspondence and network analysis, and spatial computational data science. The school concluded with project presentations, showcasing innovative findings and contributions to wealth data science. The findings will be published, and the data collected during the school will be stored in a publicly accessible data lake, benefiting researchers and policymakers worldwide.
Understanding wealth distribution is crucial for addressing broader societal issues. Economic inequality can lead to significant social challenges, including reduced social mobility, increased tension between different social groups, and environmental harm. Programs like WeDSSS are vital as they equip researchers with the knowledge and tools needed to develop strategies to promote a more equitable and sustainable future.
Moreover, the virtual connection between the two campuses in Bremen and Cape Town worked flawlessly and shows that excellent international collaborations are possible without leaving an enormous ecological footprint due to global flights. Beyond the academic activities, the school was also a joyful event and offered many opportunities to knit professional and personal networks. We thank the Volkswagen Foundation for the generous financial support.
For more information, please visit our event page.
Questions answered by:
Prof. Dr. Hilke Brockmann | School of Business, Social & Decision Sciences
hbrockmann@constructor.university | +49 421 200-3421