LADDER or Lottery

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

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?