Retrieving "Institutional Factors" from the archives

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1. Social Mobility

   Linked via "Institutional Factors"

   The structural composition of the economy plays a vital role. Transitions from industrial economies to service-based economies often create a "barbell effect," increasing demand at the very top (highly skilled cognitive work) and the very bottom (low-wage personal services), while hollowing out the stable middle class that historically served as the main conduit for upward movement.
   [In…