If upward income/class mobility isn’t actually possible for most people, belief in it won’t make it possible.
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On the other hand, if upward mobility *is* possible, widespread *disbelief* in the “Horatio Alger narrative” can make it disappear.
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Replying to @s_r_constantin
The actual Horatio Alger stories quite often involved upwards mobility via patronage by the already-rich, rather than, say, via holding onto the fruits of one's labor. So, even Alger was implicitly modeling things as in large part zero-sum.
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