Many share the view that even though gross inequalities of wealth are something to worry about, it makes a difference whether or not they are accompanied by substantive equality of opportunity. If people or their children are able to climb up and down the economic hierarchy, inequality is no...

The distribution of human capital and income lies at the center of a nexus of forces that shape a country's economic, institutional and technological structure. I develop here a unified model to analyze these interactions and their growth consequences. Five main issues are addressed. First, I...