The Effects of Inequality on Opportunity

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Inequality in America is caused by the way that measures of inequality are calculated, which is effectively on some inequality.
The way to measure the quality of opportunity in America is not by looking at the opportunity to arise or the number of people who are middle class, but by looking at the probability of losing one's status of top dog.

Nassim Nicholas Taleb, author of Skin in the Game, talks with EconTalk host Russ Roberts about the ideas in the book. This is the third episode of EconTalk with Taleb related to the general topic of skin in the game and how it affects decision-making and policy in an uncertain world. This episode focuses on rationality, religion, and the challenge of thinking about probability and risk correctly in a dynamic world.