Opportunity in America: Trends in Inequality and Mobility
Daniel R. Carroll, Economist in the Research Department of the Federal Reserve Bank of Cleveland
Central to the identity of the United States is that it is a “Land of Opportunity” where anyone, regardless of their circumstances, can rise as far as their ingenuity and effort will take them. Over the past four decades, this image has come under increasing scrutiny as income and wealth has grown more and more unequally distributed across our economy. This lecture will review the income and wealth data and discuss some of the important factors driving the increase in their dispersion. Additionally, we will examine new research on income and wealth mobility. How likely is an individual who starts with less to move up from “rags to riches” and join the top wealth holders? What policies can facilitate greater opportunity in our society?
Friday, November 17
Mary E. Marburger Science and Engineering Auditorium, S100
21000 West Ten Mile Road
Southfield, MI 48075
The Harold Hotelling Memorial Lecture Series was founded to honor an esteemed scholar and colleague. Harold Hotelling (1945–2009) joined Lawrence Tech as an associate professor of economics in 1989 and taught courses in business law, business ethics, constitutional law, urban social issues, and law and economics. His life was marked by an unwavering dedication to his family, his church, his students, and his profession. Everyone who knew him benefited from his keen intellect, tireless devotion, quick wit, and wonderful sense of humor. Hotelling's contributions to Lawrence Tech will always be remembered, but more importantly, he will be remembered as a great person and a dear friend.