Summers: We're Losing Status as Land of Opportunity

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March 24 (Bloomberg) -- Larry Summers, president emeritus of Harvard University and former U.S. Treasury secretary, explains why he feels the the U.S. is at risk of losing its status as the land of opportunity. He speaks on Bloomberg Television's "Street Smart." (Source: Bloomberg)

We live in an economy where there are two americas.

There are people who live one with the venison of people who live in a quite another way.

I am struck that it is not just income inequality has increased over the last generation.

If you look at the improvement in the life expectancy, they've come almost entirely among those in the upper half of the income enters tradition -- distribution.

If you look at educational achievement, the gaps between the children of the affluent and the children of the less affluent are rising.

If you look at college attendance, you see something similar.

We are losing our status as a socially mobile opportunity society, we are seeing greasing cleavages -- increasing cleavages in our population, and where the bullet, and how people get around, in the kind of medical care they get.

It is overall just differences in the lives they leave.

D. i do not think that is healthy for the ultimate strength of our country.

Why is it that it is happening so much now?

Why are we at this peak?

This text has been automatically generated. It may not be 100% accurate.


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