LADDER or Lottery

Ladder or Lottery: Economic Promises and the Reality of Who Gets Ahead 

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Author: Gary A. Hoover

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? Certain scholars have argued that with the creation of our market-based economy, no matter what economic position you are born into, if you play by certain social rules and do certain things, you should see upward mobility.

Drawing on his vast economic expertise, Gary Hoover explores what the “social contract” requires of its citizens, and what is promised in return. Hoover shows how civil unrest is often directly related to broken society-level promises, exploring protests such as Occupy Wall Street, The Tea Party, the Arab Spring, and Student Debt Forgiveness as case studies. He also makes predictions about where future protests can be expected if results promised are not results delivered. The book tackles challenging issues around income inequality, health care, and the coming challenges brought by artificial intelligence. 

Ultimately, this insightful and data-driven book equips readers to answer these questions: is our social contract a ladder to higher economic standing, or simply a lottery where 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?

Editorial Reviews

From the Back Cover

"Gary Hoover crystallizes an urgent reality. Engaging and vivid, Ladder or Lottery lays bare the widespread failings of the social contract in the United States. As this book authoritatively shows, our system's frequent disjuncture between effort and reward has become increasingly disruptive to societal cohesion."—Mitchell P. Smith, Professor of International Affairs and Director of the School of International Affairs, Penn State University

"The innovative resuscitation of the concept of the social contract in the context of a world where individuals make social comparisons compels us to engage in a vital rethinking of the nature of poverty, inequality, and deprivation. Gary Hoover's book is immediate essential reading for all citizens, researchers, and policymakers who seek a more equitable society in these challenging times."—William Darity Jr., Samuel DuBois Cook Distinguished Professor of Public Policy, Duke University

"A country's perceived social contract is one of the key determinants of its response to economic inequality. This enlightening volume explores fascinating questions about how social contracts are formed, how they evolve, and what happens when a substantial part of the citizenry believes they are broken."—James Poterba, Mitsui Professor of Economics, Massachusetts Institute of Technology

About the Author

Gary A. Hoover is Executive Director of the Murphy Institute, Professor of Economics, and Affiliate Professor of Law at Tulane University.