No. Some limitations might be inherent (disabilities), some might be personal choices (spend rather than save, gamble). It also depends on inflation and what sort of returns one gets. It offers a chance at mobility, but no guarantees. There's almost no mobility in today's world without some sort asset appreciation.
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Is it possible for everyone in a society to achieve upward mobility through compounding?
No. Some limitations might be inherent (disabilities), some might be personal choices (spend rather than save, gamble). It also depends on inflation and what sort of returns one gets. It offers a chance at mobility, but no guarantees. There's almost no mobility in today's world without some sort asset appreciation.