Saturday, October 15, 2011

if you think capitalism is fair because some people make it into the 1%

Some people win at casinos, but still, the house always wins.

Fact from Social mobility and inequality: Upper bound | The Economist: "Parental income is a better predictor of a child’s future in America than in much of Europe, implying that social mobility is less powerful." Yes, there's greater class mobility among more socialist countries than among more capitalist ones.

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