Mark Weinberger, global chairman and Chief Executive Officer of EY, spoke at the Aspen Ideas Festival on the topic of how the private sector can increase economic mobility. Income inequality was one of the big themes addressed during the conference. Weinberger said companies should have a social interest in increasing economic mobility, but he said there’s also a business interest, as 70% of GDP growth in the U.S. is from consumer consumption. Weinberger said while government can offer businesses support through low regulation and low taxes, it is up to private industry to take the lead in hiring and providing opportunities. Weinberger said EY will hire 65,000 people this year, a increase of about 35,000. He said the company is growing globally across the board with all sectors expanding, including its audit, advisory and tax businesses. Weinberger spoke with TheStreet’s Rhonda Schaffler in Aspen, Colorado.
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