The Decline of Upward Mobility

Concern about economic inequality is in the air almost everywhere. What should matter is not inequality per se, but rather whether citizens have a genuine opportunity to become rich, or at least become substantially better off.

NEW YORK – Concern about economic inequality is in the air almost everywhere. The issue is not inequality between countries, which is actually down in recent decades, thanks in large part to higher growth rates and longer lifespans in many emerging countries (especially China and India). Rather, the focus nowadays is on inequality – sometimes called income disparity – within countries.

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