Harvard economist Raj Chetty:
https://www.nytimes.com/2024/09/20/opinion/kamala-harris-opportunity-economy.html
An opportunity economy prioritizes equality of opportunity rather than equality of outcomes. In such an economy, we all have the chance to achieve our potential, even if some people ultimately end up earning more than others. Right now, opportunity is not equally distributed in America: People’s chances of achieving success vary widely depending upon their parents’ income, racial background and ZIP code.
While views about income redistribution using taxes are divided, equality of opportunity is a principle that appeals to Americans across the political spectrum. Most people agree that it’s unfair if your fate is determined by the family you happen to be born into or where you grow up.
But equality of opportunity is not just about fairness; it’s also about increasing economic growth and innovation. By giving everyone a chance to succeed, we better harness our talents to fill critical work force shortages, make new discoveries and start new businesses.
https://www.nytimes.com/2024/09/20/opinion/kamala-harris-opportunity-economy.html
An opportunity economy prioritizes equality of opportunity rather than equality of outcomes. In such an economy, we all have the chance to achieve our potential, even if some people ultimately end up earning more than others. Right now, opportunity is not equally distributed in America: People’s chances of achieving success vary widely depending upon their parents’ income, racial background and ZIP code.
While views about income redistribution using taxes are divided, equality of opportunity is a principle that appeals to Americans across the political spectrum. Most people agree that it’s unfair if your fate is determined by the family you happen to be born into or where you grow up.
But equality of opportunity is not just about fairness; it’s also about increasing economic growth and innovation. By giving everyone a chance to succeed, we better harness our talents to fill critical work force shortages, make new discoveries and start new businesses.