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Comment by meanduck | Hacker News Reader

What is socioeconomic mobility (of a person) in this discussion ? Is it rate of change in salary ?

> If people who could have been top-notch scientists, engineers, civil servants and entrepreneurs were prevented from doing so because they couldn't move up the ladder (and inversely, rich rent-seekers couldn't move down), society is deprived of their contributions and is worse off.

Why are they being perevented ? If I am the CEO, would not it be against my own interest to prevent my employees from making a contribution ? What ladder is that you speak of ? It certainly cannot be salary. Is there a caste system in company ? If people are being prevented based on their position in social ladder (such as caste system) does it even matter if they have more income ?

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Well, social mobility is the change in social status relative to others, which can correlate with income, yes. It also correlates with things like education and skills, type of occupation, etc.

> Why are they being perevented ?

Well, education is expensive -- and has an opportunity cost -- so low-income people often cannot afford to improve their skills and earn more income. If I am poor, and I have enough intelligence to become a good scientist, engineer, or artist, but cannot afford to go to university and gather the requisite skills, then this is a loss to society.

> Well, social mobility is the change in social status relative to others, which can correlate with income, yes. It also correlates with things like education and skills, type of occupation, etc.

Why do you classify it as social mobility ? Would not economic mobility be a better term considering education and skills are economic goods not social.

> Well, education is expensive -- and has an opportunity cost -- so low-income people often cannot afford to improve their skills and earn more income.

I thought it was not economic inequality but something else. But yes this make sense and its expected/desired of a good economy. This is not preventing.

> If I am poor, and I have enough intelligence to become a good scientist, engineer, or artist, but cannot afford to go to university and gather the requisite skills, then this is a loss to society.

Thats why the concept of loan/investments exist. All you have to is convince them that its net positive for them too.

Also this not loss. This is absence of profit.

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