Posted by on June 5, 2019 2:00 am
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Categories: µ Newsjones

If our capitalist system is going to offer any meaningful promise of equal opportunity, we need a new social contract

The capitalist system in the US today is ruthless, delivering exceptionally uneven outcomes to people across the education and income distribution. These disparities translate into vastly different levels of childhood resources and experiences. The result is that a child’s socioeconomic class at birth has a tremendous influence on his or her life trajectory. If our capitalist system is going to be fair to children and families – if it is going to hold out any meaningful promise of equal opportunity – then a new social contract is needed.

Government cannot promise equal outcomes to children, but it can promote equal opportunities. This is achieved through the provision of public goods and services, including safety net supports and quality educational institutions. Children should have the opportunity to rise as far as their talents and work will take them. Individual hard work will earn material comfort; with talent and some luck, it might even earn great riches. And all children should have that opportunity. At least that’s how we imagine it’s supposed to work.

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