In our third episode, we welcome the acclaimed economist Gabriel Palma to discuss and provide insight into pressing issues around inequality in development and the Chilean economic experience. Dr. Palma is an Emeritus Senior lecturer at the Faculty of Economics at the University of Cambridge and Professor of Economics at the Faculty of Business and Economics at the University of Santiago de Chile.How is inequality measured, and what is its importance in development research and policy? We discuss Dr. Palma’s conceptualisation of the subsequently dubbed ‘Palma ratio’ as a more holistic and tactile alternative to existing measures of inequality, able to shed light onto various homogeneities and heterogeneities concealed by the Gini coefficient. We also talk through the Chilean economic experience; the nation’s propensity to fall victim to complacency, its struggle to escape from the ‘middle-income trap’ and the ‘reverse catching up’ of advanced economies to Latin America in terms of inequality and economic performance.This episode is hosted by Pascual Gonzalez, and jointly produced by Djihad Kramer, Jodi-Ann Wang, Lara Shirra White, Rory Cardy-Phillips, and Johnny Wiley.To find out more about CAMSED, find us on our website, Facebook, or Twitter.