Barack Obama quote: “And rising inequality and declining mobility are also bad for our families and social cohesion -- not just because we t…”

“Structuralism argues that a liberal capitalist world economy tends to preserve or actually increase inequalities between developed and less developed economies.”

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter Seven, Dependence And Economic Development, p. 274

“There are practical consequences to rising inequality and reduced mobility.”

Barack Obama (1961) 44th President of the United States of America

2013, Remarks on Economic Mobility (December 2013)
Context: So let me repeat: The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream, our way of life, and what we stand for around the globe. And it is not simply a moral claim that I’m making here. There are practical consequences to rising inequality and reduced mobility. For one thing, these trends are bad for our economy. One study finds that growth is more fragile and recessions are more frequent in countries with greater inequality. And that makes sense. When families have less to spend, that means businesses have fewer customers, and households rack up greater mortgage and credit card debt; meanwhile, concentrated wealth at the top is less likely to result in the kind of broadly based consumer spending that drives our economy, and together with lax regulation, may contribute to risky speculative bubbles.

“The income tax is a much less effective tool for reducing inequalities than has often been thought.”

James Mirrlees (1936–2018) Scottish economist

Source: An exploration in the theory of optimum income taxation, 1971, p. 208

“We were not going to understand gender inequality or [other inequalities] unless we understood the interpersonal processes that mediated and enacted institutional structures and larger patterns of inequality.”

Cecilia L. Ridgeway (1947) American sociologist

Ridgeway (2013) Meet the 2013 ASA President: Cecilia Ridgeway http://www.asanet.org/cecilia-ridgeway. 2013

“The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream, our way of life, and what we stand for around the globe.”

Barack Obama (1961) 44th President of the United States of America

2013, Remarks on Economic Mobility (December 2013)
Context: So let me repeat: The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream, our way of life, and what we stand for around the globe. And it is not simply a moral claim that I’m making here. There are practical consequences to rising inequality and reduced mobility. For one thing, these trends are bad for our economy. One study finds that growth is more fragile and recessions are more frequent in countries with greater inequality. And that makes sense. When families have less to spend, that means businesses have fewer customers, and households rack up greater mortgage and credit card debt; meanwhile, concentrated wealth at the top is less likely to result in the kind of broadly based consumer spending that drives our economy, and together with lax regulation, may contribute to risky speculative bubbles.