upward mobility

If the cultural mood continues tilting toward frugality and retreat, companies that built strategies on steady upward mobility may need to revise expectations.

If the cultural mood continues tilting toward frugality and retreat, companies that built strategies on steady upward mobility may need to revise expectations.

Yet the hardest challenges—reducing the national debt, strengthening the workforce and restoring upward mobility—demand effort, not entitlement.

"A caste census would be useful if the income levels within each caste group are collected. The government could then use the data collected to identify within each caste the needs of the truly needy and offer them the required benefits and opportunities, such as education and jobs for upward mobility," Dr Pai says.

Property prices have sagged, wage growth has flattened, and many young people no longer see the link between hard work and upward mobility.