EQUALITY OF OPPORTUNITY, BARACK OBAMA, BEN CARSON, DAYMOND JOHN, BLACK LIVES MATTER, AND PUBLIC EDUCATION

Donghyun Park

Chapter 5 in Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed, 2019, pp 24-27 from World Scientific Publishing Co. Pte. Ltd.

Abstract: However, there is indeed a critical contribution that the government can make to reduce income inequality on a sustainable basis, without harming economic growth but instead fostering growth. That contribution is to promote equality of opportunity. In other words, the government can help level the playing field so that anybody with talent, ingenuity and drive can become another Steve Jobs, Elon Musk or Ted Turner. Equality of opportunity is a nice ideal, but in the real world, some of us have a head start over others. Somebody born with a silver spoon in his mouth in Beverly Hills, for example, will have an incomparably higher chance of a successful life than somebody born without a spoon at all in Watts. The silver spoon will have access to better home, better education, better nutrition, better health care, and better everything. Yes, there are inspirational no-spoons who overcame the odds to succeed in life — for example, the renowned neurosurgeon Dr. Ben Carson — but these are few and far in between…

Keywords: Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market (search for similar items in EconPapers)
JEL-codes: A1 F00 F6 N2 P16 (search for similar items in EconPapers)
Date: 2019
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