It’s been 40 years since the Brookings Press first published “Equality and Efficiency: The Big Tradeoff” by celebrated economist Arthur Okun. At an event to launch an updated version of the book—the third in a new series called The Brookings Classics—experts debated the book’s relevance to current economic issues like rising inequality. Do we have to choose between equality and efficiency? And if we do, how much should economic policy favor one over the other?