Question

Is economic mobility, or the ability to move from a lower income group to a higher...

Is economic mobility, or the ability to move from a lower income group to a higher group, sill possible in the 21st America? Why or why not?

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Answer #1

Ans: Yes, Now it is possible for people living in marginalized level to shift to higher income group. This has been possible due to the increased incentive for education. The education in America has been subsidized to a level where most of the population can afford and are accessible to a better education than they were before. Also, the use of technology has increased the accessibility to education. Moreover, improvement in health facilities has increased the productivity of human capital and hence induced more returns to all the factor of production. Now, people from any background can afford a dream of a better living.

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