The article discusses the concept of opportunity hoarding, particularly in the context of the college admissions scandal. It highlights how wealthy parents may undermine competition by securing advantages for their children, which poses moral dilemmas. The discussion then shifts towards understanding economic mobility nuances—relative and absolute mobility. Relative mobility assesses how well adults are doing compared to their parents, analogous to racing performance, while absolute mobility evaluates income increases over generations. This examination challenges the belief in universal economic advancement through hard work, presenting a more complex reality.
The concept of opportunity hoarding indicates how wealthy parents may secure advantages for their children in ways that disadvantage others in the college admissions process.
Relative mobility compares the economic ranking of current adults to that of their parents, demonstrating whether individuals outperform their predecessors in their socio-economic standings.
Absolute mobility assesses if current adults have a higher inflation-adjusted income than their parents had at the same age, reflecting real economic progress over generations.
Economic mobility is a cherished American ideal, yet the reality of relative versus absolute mobility reveals complexities that challenge this notion of progress.
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