And rising inequality and declining mobility are also bad for our families and social cohesion, not just because we tend to trust our institutions less but studies show we actually tend to trust each other less when there’s greater inequality. And greater inequality is associated with less mobility between generations. That means it’s not just temporary. The effects last. It creates a vicious cycle. For example, by the time she turns three-years old, a child born into a low-income home hears 30 million fewer words than a child from a well-off family, which means by the time she starts school, she’s already behind. And that deficit can compound itself over time. And finally, rising inequality and declining mobility are bad for our democracy. Ordinary folks can’t write massive campaign checks or hire high-priced lobbyists and lawyers to secure policies that tilt the playing field in their favor at everyone else’s expense. And so people get the bad taste that the system’s rigged. And that increases cynicism and polarization and it decreases the political participation that is a requisite part of our system of self-government.
Posted on: Thu, 05 Dec 2013 04:28:53 +0000
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