A “fair go” is central to the whole idea of Australia. That can mean different things in different contexts. But it certainly means that our lifetime economic prospects should not be pre-ordained at birth.

It is comforting, then, that the Productivity Commission’s recent report card on social mobility in Australia, Fairly Equal?, paints a positive picture. One important measure is “intergenerational income mobility”. Namely, how much impact a parent’s income has on the income of their children. This is as good an economic measure as there is of equality of opportunity in a society. It’s the essence of a fair (economic) go.