• Mark McAdam

Capitalism's Most Significant Challenge

Updated: Dec 8, 2021

For all of capitalism's successes in the West in the past 70-80 years, one of the implicit assumptions not discussed frequently enough was that its justification was entangled in the belief that social mobility was possible. If you started out poor, you didn't need to end up poor. Of course, one would enjoy more economic well-being than one's parents' generation did. The decline of social mobility is a genuine societal problem – one that requires active efforts for its re-establishment.

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