Inequality is rarely static. It can grow or shrink over time. Perhaps no one understands that dynamic better than economist Bhash Mazumder, whose work has been foundational in understanding and measuring intergenerational mobility.

In this conversation with host Steven Durlauf, Bhash recounts how his research revealed a clearer picture of income mobility in the United States: namely, how previous estimates of mobility were far too rosy. Throughout their discussion, measurement issues abound. They consider typical metrics such as income and wealth, but also less obvious approaches, including surveys of physical and mental health. Last, they discuss how mobility has been shaped by two major events in American history: first, redlining policies that began during the New Deal, and second, urban renewal projects that were sparked by the Great Migration.