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The 7 Biggest Economic Lies

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Chancellor's Professor of Public Policy, University of California at Berkeley; author, 'Saving Capitalism: For the Many, Not the Few''

Chancellor's Professor of Public Policy, University of California at Berkeley; author, 'Saving Capitalism: For the Many, Not the Few''
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ROBERT B. REICH, Chancellor's Professor of Public Policy at the University of California at Berkeley, was Secretary of Labor in the Clinton administration. Time Magazine named him one of the ten most effective cabinet secretaries of the last century. He has written thirteen books, including the best sellers "Aftershock" and "The Work of Nations." His film, "Inequality for All," will be out in September. He is also a founding editor of the American Prospect magazine and chairman of Common Cause.

Also on HuffPost:

How Increasing Income Inequality Leads To Less Opportunity
The Great Gatsby Curve(01 of05)
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"The Great Gatsby Curve shows that children born in countries with high levels of income inequality will experience less economic mobility on average than children born in more equal countries," the Center for American Progress reports. (credit:Center for American Progress)
Getting Ahead(02 of05)
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"Economic mobility is determined by three major institutions that all interact with income inequality: the family, the market, and the state. Changes in any of these three areas affect the rate of mobility in a country, "the Center for American Progress reports. (credit:Center for American Progress)
Parents Matter(03 of05)
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"Countries with high levels of income inequality also have higher levels of teenage parenthood. Teenage parents cannot invest in their children as much as other parents can due to their lower average incomes and lower levels of human capital, which harms the chances for opportunities for their children," the Center for American Progress reports. (credit:Center for American Progress)
Labor Market Inequality Matters(04 of05)
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"Countries also have lower levels of intergenerational economic mobility when the difference between the pay of college graduates and noncollege graduates is larger," the Center for American Progress reports. (credit:Center for American Progress)
Access To Education Matters(05 of05)
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"Access to high-quality education is also important, as countries have lower levels of economic mobility when a child’s educator is more determined by who educated her parent," the Center for American Progress reports. (credit:Center for American Progress)

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