The Department of Economics presents an Economics in the Real World lecture by Steven Raphael titled "What happens when we reduce prison populations? Implications for racial inequality and public safety." A professor of public policy at the University of California-Berkeley, Raphael has studied how applied economics intersect with racial inequality in the labor market, housing and homelessness, and incarceration and its impacts on public safety and on labor market outcomes. The lecture series is intended to highlight the importance of economic analysis to real-world problems. The event begins at 5 p.m. in the Foxboro Auditorium, Kassar House, 151 Thayer St.