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Outcomes and Opportunities
From: The Age of Increasing Inequality
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Equalizing opportunity does not necessarily equalize outcomes. However, inequality of outcomes implies inequality of opportunity since the children of affluent parents inherit human capital and financial capital, which they can later pass on to the grandchildren. Because the only possible intergenerational mobility for families already at the top is downwards, increasing inequality increases the incentives for the elite to try to safeguard their social position.
Contributors
Lars Osberg
LARS OSBERG is McCulloch Professor of Economics at Dalhousie University with research interests in labour economics and income and wealth distribution. He received his PhD in Economics from Yale University and has published numerous articles in academic journals and seven books. He is past President of the Canadian Economics Association. He lives in Halifax, Nova Scotia.
