Economics Income Inequality Questions
The relationship between income inequality and social mobility is that higher levels of income inequality tend to be associated with lower levels of social mobility. In societies with high income inequality, there are often limited opportunities for individuals from lower-income backgrounds to move up the economic ladder. This can be due to various factors such as unequal access to quality education, limited job opportunities, and barriers to upward mobility. Conversely, in societies with lower levels of income inequality, there tends to be greater social mobility, as individuals have more equal opportunities to improve their economic status.