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Inequality and opportunity: the return of a neglected debate

Machin, Stephen and Van Reenen, John (2012) Inequality and opportunity: the return of a neglected debate. US ELECTION ANALYSIS NO. 4 (CEPUSA004). The London School of Economics and Political Science, Center of Economic Performance, London, UK.

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Abstract

During this election period many Americans are feeling angry towards the very rich, especially those working in the financial sector, who helped cause the Great Recession and yet were bailed out by the government. Increases in inequality might be tolerable at a time of growing consumption for all, but they become less acceptable when the unemployment rate has hit 10% and real wages continue to stagnate. The chances that those who are born poor will escape from poverty are lower now in the US than in almost any other OECD country. However, neither of the presidential candidates is clear about how they would tackle the fundamental causes of the enormous shift in the US income distribution.

Item Type: Monograph (Report)
Official URL: http://cep.lse.ac.uk/
Additional Information: © 2012 The Authors
Divisions: Economics
Centre for Economic Performance
Subjects: H Social Sciences > HB Economic Theory
Sets: Departments > Economics
Research centres and groups > Centre for Economic Performance (CEP)
Collections > United States Collection
Date Deposited: 17 Jul 2014 15:57
Last Modified: 09 Aug 2021 23:06
URI: http://eprints.lse.ac.uk/id/eprint/57988

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