> 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.