Income mobility and income inequality are interlinked, says Simon Tisdall. In the U.S., there is a movement of people who have made lots of money in their lifetimes but then invested it to transmit that advantage to their children. The transmission of the advantage is different from when you had like rich sort of reindeer capitalists giving kids factory-type jobs or connections. But now what they're doing is giving them extremely good education which is very expensive.
Yascha Mounk and Branko Milanovic discuss what his famous elephant curve says about the ills—and the gains—of globalization; how the left’s concern with inequality is being turned against its concern with internationalism; why economic causes of populism are often expressed in cultural ways; and how a determination to increase the financial and educational endowments of ordinary citizens can combat inequality and boost their living standards.
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