This book examines the disappearance of upward mobility and the rise of inequality within Western societies. It explores intergenerational social mobility and charts its evolution over recent decades. Particular attention is given to the economic changes that have impacted social mobility trends since the introduction of neoliberal doctrine by the Reagan and Thatcher governments. The promises of meritocracy and increased opportunity through education are shown to be false during a time when trickle-down economics - namely, deregulation and austerity in public policies - is driving a rise in inequality, with the benefits of economic growth being collected by the wealthy elite. By highlighting the negative impacts of these economic trends, including the increase in poorly paid and insecure jobs, a new set of public policies are presented that better utilise the skills present within the labour market to create economic equity. This book challenges the neoliberal consensus and sets out economic reforms for a fair society. It will be relevant to students and researchers interested in the political economy, economic systems, and labor economics. The English translation of this book, originally in Italian, was done with the help of artificial intelligence. The content was later revised by the author for accuracy.

Francesco Farina is Professor of Economics at Cimeo, Sapienza University of Rome. A Former President (2014-18) of the Italian Association for the Study of Comparative Economic Systems, he has been teaching in the universities of Toronto, Siena, Perugia, Luiss Rome, and Napoli l'Orientale. He is the author of several books and papers on macroeconomics, and recently of Lo Stato sociale, Luiss University Press, 2021.