Our Brave New World

Here's a quote I came across while reading a book titled "Our Brave New World" by my friends at GaveKal Research. It hits the nail right on the head!

"When the process of creative destruction is allowed to work, we get both income disparity and the ability of people to 'move up.' When income disparity is constrained, the ability of people to climb the social ladder disappears." This is why, in large parts of Europe, 'l'ascenceur social est en panne.'