Inequality and the Great Gatsby Curve

Inequality is key in shaping opportunities for the next generations With his talk, Miles Corak from the University of Ottawa offers a framework for thinking about the potential role that inequality plays on the opportunities of the next generation. In particular, the inequality framework helps understanding why future outcomes of children are more closely tied to their family background — with the poor raising a next generation of poor adults, and the rich seeing their children to be more likely the next generation of rich adults — in countries with greater inequality. Differences in families, labour markets, and public policy all play a role in understanding why the United States has relatively less social mobility than many other countries.