Access to Financing | Access to Markets |
Access to Technology | Apprenticeships |
Citizenship & Resident Status | Cultural Capital |
Economic Freedoms | Economic Growth |
Economic Stability | Education |
Employment | Fair Competition |
Family Stability | Financial Literacy |
Free Time | Freedom from Discrimination |
Health & Wellness | Healthcare |
Housing | Income |
Infrastructure | Institutional Support |
Learning Experiences | Licenses, Permits & Certifications |
Low Corruption & Cronyism | Low Red Tape |
Low Tax Burden | Nutrition |
Political Stability | Quality of Life |
Relational Capital | Role Models |
Social Infrastructure | Social Status |
Training Programs | Wealth |
Work Experience | Workers Rights |
Working Conditions | Workplace Safety |
Discussion
Cultural capital is the ability to influence others. This results from social opportunities in a culture. For example, if you grow up as a member of the upper class, you may understand their norms and more easily influence them.Economic freedom is the ability to pursue a profession or business without excessive restrictions. For example, the freedom to start a business without facing excessive taxation or red tape.Fair competition relates to government prevention of anti-competitive practices whereby large incumbents in an industry use their position in aggressive ways towards smaller competitors.Any advantages in life are also economic opportunities. For example, the luck of being born into a wealthy family or nation. Conversely, poverty makes it much more difficult to get an education and advance.Free time is time that you can dispose of as you see fit. For example, a young person who has to care for a ailing family member may have less economic opportunity than a peer who has ample free time.Relational capital is who you know. For example, family connections often help individuals with regards to education, jobs and business. This is far more common in a society with high cronyism.Institutional support includes support from family or other institutions such as a school.Learning experiences include things like going to a museum or camping whereby you can learn through experience.Social status is the reputation of an individual and the institutions with which they can associate their name. For example, a degree from a high status university or work experience with a well known firm.Role models include family members and peers that act as an inspiration in some way.Overview
Economic opportunities are the freedoms and access to resources, institutions, industries and infrastructure required to pursue an economic goal such a business or profession. This relates to general conditions such as a thriving and growing economy and to the specific conditions of an individual's life such as a lack of adversity.
Summary
The following are common types of economic opportunity.
