Recap:
Barack Obama once declared economic inequality - that is, the large disparities in income and wealth between the rich and the rest - to be “the defining challenge of our time”. In a similar vein, Bernie Sanders called inequality “the great moral issue of our time”. Such sentiments are widespread on the left. Yet the issue of inequality in the U.S. doesn’t seem that big of a deal for lot of other Americans. According to recent polls, just half of us consider economic inequality a “very big problem” in the U.S. (YouGov and Pew). This doesn’t mean Americans of the non-left are a cold-hearted bunch. Most want a country with less poverty, greater social mobility and equal opportunity for all. But for many, the very idea of extreme inequality elicits little more than a shrug.
As with the general public, so with economists: a good number consider inequality more a consequence than a cause of dysfunction in American society and not a huge problem in itself. But the arguments of economists have little impact on public opinion (go figure!). And for many on the other side of the issue, the problem of economic inequality goes way beyond its economic effects anyway. For them, the level of inequality in the U.S. violates basic principles of fairness and leads to severe disparities in political power and wellbeing.
Does it?
I’m not going to attempt an answer to that question. Instead, I’m exploring pathways from the question to possible answers. Ever tiptoeing towards the light, carefully, with occasional missteps to be expected.
In the last two posts, I looked at various considerations that influence judgments of fairness as well as a few ways to gauge the political power of billionaires (see here and here). This time around I’m going to tackle well-being, specifically the impact of social mobility on wellbeing.
Here’s what AI says:
Upward social mobility enhances wellbeing by improving material living conditions, boosting psychological confidence, and expanding access to better health and social resources.
Better Material Conditions
Higher income: Moving up the economic ladder gives people more financial security.
Quality housing: Better earnings allow families to live in safer, healthier neighborhoods.
Healthcare access: Higher status often provides better medical insurance and care, reducing physical stress.
Psychological Benefits
Sense of purpose: Achieving goals and learning new skills brings pride and personal fulfillment.
Positive expectations: According to the Frontiers in Public Health research on expectations, anticipating upward mobility fosters hope and lowers anxiety about the future.
Confidence: Overcoming barriers builds psychological resilience and life satisfaction.
Social and Community Factors
Social capital: Moving up connects people to broader, more supportive professional networks.
Shared opportunity: Societies that support mobility tend to have less discrimination and more social trust, which benefits everyone's mental health.
AI sources I verified:
Pursuing Happiness: Social Mobility and Well-Being. Carol Graham / Brookings October 24, 2013 https://www.brookings.edu/articles/pursuing-happiness-social-mobility-and-well-being/
Relationship between social mobility and residents’ health: the mediating role of subjective well-being. Zhang, Zheng, Ou, et al. (2025) Journal of Health, Population and Nutrition https://doi.org/10.1186/s41043-025-01020-z
Social mobility and health gain: the combined effects of material conditions, psychological support, and social capital. Zhang et al (March 12, 2025) Front Public Health. doi: 10.3389/fpubh.2025.1496279
Social mobility and sense of purpose from midlife to old age: Examining the role of major life events. Lee et al (2023) Research on aging 45, no. 7-8: 550-562. https://doi.org/10.1177/01640275221121588
The influence of social mobility perception and expectation on residents’ health: the role of subjective well-being and physical exercise. Liu, Zheng & Kuang (2025) Frontiers in Public Health 13:1562862. doi: 10.3389/fpubh.2025.1562862
Be it resolved: social mobility enhances wellbeing. But what kind of social mobility are we talking about? Next