Equality Of Opportunity Within And Among Nations

Equality of Opportunity Within and Among Nations

Inequality of Opportunity, Inequality of Income and Economic Growth

We posit that the relationship between income inequality and economic growth is mediated by the level of equality of opportunity, which we identify with intergenerational mobility. In economies characterized by intergenerational rigidities, an increase in income inequality has persistent effects—for example by hindering human capital accumulation— thereby retarding future growth disproportionately. We use several recently developed internationally comparable measures of intergenerational mobility to confirm that the negative impact of income inequality on growth is higher the lower is intergenerational mobility. Our results suggest that omitting intergenerational mobility leads to misspecification, shedding light on why the empirical literature on income inequality and growth has been so inconclusive.

Passage to a Just Society

For more information about the author and his publications visit www.democracywhere.com This study demonstrates that because their opposing nature, democracy and capitalism or socialism cannot coexist. To have a democratic society, we have to replace capitalism or socialism with a democratic free market economy and take government out of regulating people's business and daily life.. The author attempts to present such a democratic concept, its societal structure and function and how under such a system people understand the purpose of life, work less hours, yet have a prosperous, leisurely and satisfying life. The book is actually the story of some parts from the author's life, written in an autobiographical form, showing hardships, sufferings, failures, incredible adventures, romance and love he encountered in developing his theory, and how persistence and determination , despite repeated failures, helped him to succeed in developing his theory and at the same time, transformed him to a better human being.