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Question-and-answer interview on wealth distribution features CSUSB economics professorWallet Hacks Rishabh Kumar, assistant professor of economics, was featured in a question-and-answer column on wealth inequality and what accounts for how wealth is distributed in the United States. In response to one question, he said, “The most common misconception is the fraction of meritocratic rich in the U.S. While many such as (Microsoft’s Bill) Gates and (Facebook’s Mark) Zuckerberg have made outstanding gains due to their entrepreneurship, the average wealthy family tends to inherit their position. There is very little chance of downward social mobility once an American is in the top 0.5-0.1%.”
This news clip and others may be viewed at “In the Headlines” at inside.csusb.edu.