A country where an individual's chances of success depend little on the socio-economic success of his or her parents is said to be a country with high relative intergenerational mobility. A government's motivation for seeking to improve mobility is arguably two-fold. There is a fairness argument...

Conventional economic wisdom has long maintained that there is a necessary trade-off between pursuit of the efficiency of a system and any attempts to improve equity between participants within that system. Economist Robert Lucas demonstrated the implications of this common economic axiom when...