23 Things they don't tell you about Capitalism

Those who favor free-market policies suggest that equality of opportunity, rather than equality of outcome, should be the goal of policymakers. In this view, attempts to equalize outcomes, such as through affirmative action, only reduce incentives to work hard.

While Chang applauds historical advancements in equality of opportunity throughout the world, he suggests that this is only a starting point. Children from disadvantaged socioeconomic backgrounds are likely to underperform in school if they don’t have enough food to eat, for example. Although attempting to fully equalize outcomes would be a mistake, assistance in meeting basic needs can help those who, due to factors beyond their control, might not otherwise be able to take advantage of the opportunities available to them. Another example might involve welfare assistance and training for unemployed individuals to help them transition to a new job. In fact, several Scandinavian countries that offer larger welfare programs than the US demonstrate greater social mobility. Only in considering socioeconomic status can an economy begin to offer a true, fair chance for success to everyone.