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Inquiry into the Relationship Between Economic Freedom and Social Mobility

Title: An Inquiry into the Relationship Between Economic Freedom and Social Mobility.
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Name(s): Elbrecht, Michael, author
Department of Economics
Type of Resource: text
Genre: Text
Issuance: serial
Date Issued: 2013
Physical Form: computer
online resource
Extent: 1 online resource
Language(s): English
Abstract/Description: Problems of income distribution are a major concern of current socio-economic research and constitute the basis for numerous governmental policies. But before one can understand any problems of income distribution one must examine the extent of social mobility. Social mobility is defined as the movement of individuals between income classes and is often viewed as a major indicator of a nation's economic status. Upward social mobility warrants particular interest because it is an indicator of economic growth. ("Income Distribution…" 2). To demonstrate the importance of accounting for social mobility as a component of income distributions, consider the difference between two societies; both have the same degree of income inequality at the same point in time but after accounting for change in incomes over time, it might be the case that in the first society there is significantly more social mobility than the second, meaning there is more change over time in the individuals' incomes. In the second society, it might be the case that the rich stay rich and the poor stay poor. After accounting for social mobility, the income distribution in the first society can be described as more equal because there is reason to believe that individuals at least have an opportunity to become rich. Thus, social mobility is critical in understanding the general phenomenon of income distribution. The question becomes, "What causes social mobility?" Some of the notable proposed factors include the levels of educational attainment and political institutions. This paper, however, examines another possible factor: economic freedom.
Identifier: FSU_migr_uhm-0228 (IID)
Keywords: Economic freedom, social mobility, income distribution, capitalism, income mobility, intergenerational elasticity, economics, income transition matrix
Submitted Note: A Thesis submitted to the Department of Economics in partial fulfillment of the requirements for the degree of Honors in the Major.
Degree Awarded: Summer Semester, 2013.
Date of Defense: February 15, 2013.
Subject(s): Economics
Persistent Link to This Record: http://purl.flvc.org/fsu/fd/FSU_migr_uhm-0228
Restrictions on Access: http://creativecommons.org/licenses/by/3.0/
Owner Institution: FSU
Is Part of Series: Honors Theses.

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Elbrecht, M. (2013). An Inquiry into the Relationship Between Economic Freedom and Social Mobility. Retrieved from http://purl.flvc.org/fsu/fd/FSU_migr_uhm-0228