It’s Not the Inequality; It’s the Immobility

To be sure, we need to retain the concept of inequality in our thinking, if only to understand public perceptions of the economy or how pay structures are evolving inside corporations. Still, we should be cautious in using “inequality” as an automatically negative term. A lot of inequality is natural and indeed desirable, because individuals have different talents and tastes and opportunities can never be fully equalized.

The concept of mobility helps us distinguish between “good inequality” and “bad inequality.”