George W.’s speechwriter has an Op-Ed noting that we should focus more on economic mobility than economic inequality and we couldn’t agree more:
“Still, the most important measure of U.S. economic success is not income equality but social mobility. Economic inequality can be justified in a fluid society, in which economic advancement is a realistic goal. Economic inequality in the absence of economic mobility amounts to a class system in which the circumstances of birth are the main economic blessing or curse….
“There remains a considerable amount of economic mobility, upward and downward, in the middle class. But nearer the bottom of the income scale, upward mobility is weak and stuck. As a result, according to the Economic Mobility Project, the U.S. economy is less fluid than the economies of Canada, France, Germany or the Scandinavian countries.”Individual advancement is closely tied to educational achievement and family structure. An economy that rewards skills and other forms of human capital is not a good place to be a dropout with a child out of wedlock.
“Conservatives are correct that tax increases on the wealthy to fund entitlement commitments that go mainly to the elderly would do precious little to address this problem.
“Liberals are right that a combination of rising economic inequality (even if the rise is gradual) with stalled economic mobility is an invitation to destructive social resentments. Americans will accept unequal economic outcomes in a fair system. They object when the results seem rigged. That way lies the Bastille.
“So the question comes to liberals and conservatives: If social mobility is the goal, what are the solutions? What can be done to improve the quality of teachers in failing schools, to confront the high school dropout crisis, to encourage college attendance and completion, to reduce teen pregnancy, to encourage stable marriages, to promote financial literacy, to spark entrepreneurship?
“Both Democrats and Republicans should have something to contribute to the development of this agenda. Neither party, however, currently has much to say. And this is not likely to change until the discussion turns from equality to mobility.”
Read Michael Gerson, “Economic inequality is the wrong issue” (Washington Post Op-Ed, 11/4/2011)