This paper examines how economic stratification affects inequality and growth over time. It studies economies where …

this shortcoming in the traditional approach. The new findings - on persistence and stratification; on the formation of …

stratification. Imperfect capital markets are not necessary, but will compound these other sources. Second, stratification makes … to reduce stratification, it may improve educational achievement in poor communities much less than it lowers it in … policy to improve both equity and efficiency. Fifth, because of the cumulative nature of the stratification process, it is …