On The Startup, Georges Abi-Heila points out that the American dream is dead and that unless you picked the right parents at birth your chances of success in life are pretty much nil — and he's got the data to back up his claims. Looks like luck really plays a factor in success. And it looks like things are just getting worse for the next generation.
Now a lot of us can cope with that if there are good chances of improving our situation. If my household’s finances are better than my parents’, the society I’m living in would have enhanced my well-being.
That’s actually one of the cornerstones of modern capitalism: inequalities are accepted as long as the possibility of betterment exists. We tolerate unfairness as long as there are good chances of improving our condition.
The question is: what are the chances?
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