The reason we have such a hard time understanding concepts in economics is because many of the definitions given to terms are so clear, yet filled with ambiguity. If terms like capital or institutions have more than one interpretation, this can have some implications when getting a message across. Sometimes, an alternative interpretation will completely … Continue reading Clearly Ambiguous: Capital
Financial Capital: Moving Up The Ladder In The Modern Economy
Though it doesn’t paint the whole picture, financial capital represents a whole lot of the influence behind economic mobility. The last, and most obvious, installment in our analysis of economic capital’s effect on realizing the American Dream explores financial capital. Financial Capital: The zeroes in your savings account In the context of intergenerational mobility, referring … Continue reading Financial Capital: Moving Up The Ladder In The Modern Economy
Capital and the American Dream
The “American dream” is rooted on the idea that people can go from “poor” to “not poor” in this country with a can-do attitude and strong work ethic. Although we’ve heard a handful of these “rags to riches” stories, research shows that it ain’t as easy as it used to be. In this series, we … Continue reading Capital and the American Dream