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India's rigid social structure limits intergenerational economic mobility and fosters acceptance of vast wealth disparities.

Outside of the family, education is the greatest determinant of social mobility.

Income inequality is troubling because, among other things, it means that many people in our society don't have the opportunities to advance themselves.

When inequality gets too extreme, then it becomes useless for growth, and it can even become bad because it tends to lead to high perpetuation of inequality over time and low mobility.

The difference between rich and poor is becoming more extreme, and as income inequality widens the wealth gap in major nations, education, health and social mobility are all threatened.

In middle-income countries, inequality becomes a problem because you can see there is a layer of people who are doing well, while the poor are still stuck there.

The Princeton economist Alan Krueger has demonstrated that societies with higher levels of income inequality are societies with lower levels of social mobility.

Inequalities of wealth lead to a dispersion in wealth for all.

Some degree of inequality in income and wealth, of course, would occur even with completely equal opportunity because variations in effort, skill, and luck will produce variations in outcomes.

Early investment in the lives of disadvantaged children will help reduce inequality, in both the short and the long run.