Glass Floors and Slow Growth
Debates around inequality often focus on upward social mobility. But there is another side to the coin, write Abigail McKnight and Richard V. Reeves. Serious problems are being created by the fact that those from better-off families are protected from downward mobility, combined with slow economic growth and its impact on the creation of well-paid jobs.
Generations of British and US children have benefited from the hard work their parents contributed to many decades of strong economic growth. This has helped to ensure that, on average, children in their adult lives are economically better-off than their parents were at the same age.