IDEAS home Printed from https://ideas.repec.org/p/cep/cepusa/004.html
   My bibliography  Save this paper

Inequality and opportunity: the return of a neglected debate

Author

Listed:
  • Stephen Machin
  • John Van Reenen

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.

Suggested Citation

  • Stephen Machin & John Van Reenen, 2012. "Inequality and opportunity: the return of a neglected debate," CEP US Election Analysis Papers 004, Centre for Economic Performance, LSE.
  • Handle: RePEc:cep:cepusa:004
    as

    Download full text from publisher

    File URL: http://cep.lse.ac.uk/pubs/download/cepusa004.pdf
    Download Restriction: no

    Other versions of this item:

    More about this item

    Keywords

    inequality; social mobility; fiscal crisis; US Election; USA; unemployment;

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cep:cepusa:004. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEPUSA .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.