Economic Mobility Essay Sample

I attended an ignition conference on the inflation rate and the increasing tuition rate in colleges. It related to my class in that both tried to compare the level of income and the economic mobility. Economic mobility involves a family, an individual, or some other group to improve their economic status measured by income (Beach 99). Its measurement requires the movement between the income quantiles. It is a social mobility measured by a change in income. Economics concerns more with an individual ability to create revenue measured in income instead of true wealth.
Through people trying to lower their economic status, they lead to deindustrialization. The event revealed that due to increased tuition fee, many students are unable to achieve a college education. Parents tend to assume that they have no money and hence don’t pay their children’s fees (Beach 90). It is similar to my class since a reduction in the industrial activities in the fields that received support from the manufacturing industry leads to deindustrialization.
Growth in wealth gap hurts economic mobility. There is the increasing of the division of US cities into the rich and the poor. For instance, the event revealed that the underprivileged families have hard term in accessing the college education. It prohibits the capability of the citizens to climb the economic ladder (Gregory 120).The increasing geographical gap between the haves and the have-nots hurts the economic mobility. It is a signal of dark projections for the urban areas in the city that forms the beacons for jobs and opportunities.
Income inequality is not a significant concern for economic mobility (Schnitzel 57).For instance, the event revealed that if the individuals from low economic status can acquire education, they can end up beating those in the upper quartiles. My class showed that in 1990s, there was a high level of income inequality but since the economy grew, it benefited everybody. There were fewer worries by the people concerning the concentration of income at the top (Gregory 59). There are improvements in living standards of the poor and middle class despite growth in income inequality.
Economic prospect and upward mobility form the foundation of the American dream. In the event, I learnt that an individual can obtain education and become successful thus climbing the ladder (Beach 57). In my class, there was the idea of very little economic mobility. My class revealed that increased labor force participation earning enables families in the maintenance of their economic ladders and precisely moves up the ladder.

Works cited

Beach, J M. Gateway to Opportunity?: A History of the Community College in the United States. Sterling, Va: Stylus Pub, 2010. Internet resource.
Clark, Gregory. The Son Aslso Rises: Surnames and the History of Social Mobility. , 2014. Print.
Schnitzel, Daniel D. Inter- and Intragenerational Economic Mobility: Germany in International Comparison. Bielefeld: Bertelsmann, 2012. Print.