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Ladder or Lottery
Economic Promises and the Reality of Who Gets Ahead
Language:
English
Published/Copyright:
2026
About this book
Who really gets ahead in a market-based economy.
This book asks the reader a simple question: Is our economy a ladder or a lottery? Are people able to control their position on the economic spectrum by their actions? Some argue that, in our market-based economy, if you play by certain rules and make certain choices, you'll achieve upward mobility no matter what economic position you were born into.
Drawing on his vast economic expertise, Gary A. Hoover explores what this "social contract" requires of its citizens, and what it offers in return. Hoover shows how civil unrest is often directly related to broken society-level promises, exploring protest movements such as Occupy Wall Street, the Tea Party, the Arab Spring, and student debt forgiveness as case studies. He also predicts where future protests can be expected if results promised are not results delivered.
This insightful and data-driven book tackles challenging issues around income inequality, health care, and artificial intelligence, and ultimately equips readers to answer these pressing questions: Is our social contract a ladder to higher economic standing, accessible to all no matter where they start? Or rather a lottery in which many will buy a ticket but only a few will find success? And how can we best align social promises with our lived economic realities?
This book asks the reader a simple question: Is our economy a ladder or a lottery? Are people able to control their position on the economic spectrum by their actions? Some argue that, in our market-based economy, if you play by certain rules and make certain choices, you'll achieve upward mobility no matter what economic position you were born into.
Drawing on his vast economic expertise, Gary A. Hoover explores what this "social contract" requires of its citizens, and what it offers in return. Hoover shows how civil unrest is often directly related to broken society-level promises, exploring protest movements such as Occupy Wall Street, the Tea Party, the Arab Spring, and student debt forgiveness as case studies. He also predicts where future protests can be expected if results promised are not results delivered.
This insightful and data-driven book tackles challenging issues around income inequality, health care, and artificial intelligence, and ultimately equips readers to answer these pressing questions: Is our social contract a ladder to higher economic standing, accessible to all no matter where they start? Or rather a lottery in which many will buy a ticket but only a few will find success? And how can we best align social promises with our lived economic realities?
Author / Editor information
Contributor: Gary A. Hoover
Gary A. Hoover is Executive Director of the Murphy Institute, Professor of Economics, and Affiliate Professor of Law at Tulane University.
Topics
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Frontmatter
i -
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Contents
v -
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List of Illustrations
vii -
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Preface
ix -
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1. Who Are the Haves and Have Nots?
1 -
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2. Poverty and Inequality by the Numbers
19 -
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3. Social Contracts in Theory and Practice
37 -
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4. Occupy Wall Street
60 -
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5. The Tea Party
77 -
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6. The Arab Spring
95 -
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7. Student Debt Forgiveness
114 -
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8. Conclusions and Predictions
135 -
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Notes
155 -
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Bibliography
167 -
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Index
177
Publishing information
Pages and Images/Illustrations in book
eBook published on:
February 17, 2026
eBook ISBN:
9780520402638
Pages and Images/Illustrations in book
Main content:
200
eBook ISBN:
9780520402638
