Economic Mobility

Economic mobility refers to the ability of an individual, family, or group to improve or lower their economic status, typically measured by income. It is a crucial aspect of social mobility, allowing people to move up or down the economic ladder over the course of their lifetimes. Economic mobility is closely related to social mobility and income inequality. As noted by economist Raj Chetty, economic mobility is a key driver of economic growth and development, as it allows individuals to invest in their human capital and contribute to the economy in meaningful ways.