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Abstract Promoting the construction of common prosperity is an important issue for understanding the new development stage, implementing the new development concept, and constructing a new development pattern. Realizing common prosperity for all people is a key leap in transforming their beautiful aspirations into a better life for the people. To achieve common prosperity for all people, it is necessary for all people to have opportunities and ways to become prosperous. Working hard to get rich is the broadest way to get rich. Promoting common prosperity requires adhering to the principle of diligence, innovation, and wealth creation. The principle of diligence promoting prosperity states that we should promote common prosperity in high-quality development. Faced with the current income distribution situation and wealth accumulation mechanism in China, promoting common prosperity through diligence calls for theoretical response.
This article reveals the probability value of diligence based on the intergenerational transmission model of income gap from the perspective of common prosperity. This study suggests that intergenerational transmission of income is stable in the expected sense. Diligence can change the probability distribution of income levels among offspring, and it is an effective way to promote common prosperity. The whole society praises diligence more, individuals are more diligent, and increasing the diligence bonus makes it easier for the whole society to achieve common prosperity. From a single point in time, diligence does not necessarily lead to high income, as being in a dominant department has a significant impact on whether one can earn high income. As we see in our daily lives, some people work hard but struggle to live a decent life. And some people may seem relatively relaxed, but they can earn higher returns. This may be a path dependence caused by differences in starting points, or an income gap caused by differences in departmental power.
However, China currently faces many practical challenges in promoting common prosperity through hard work, including challenges in the distribution system, employment opportunities, labor remuneration, education equity, and basic public services. Everyone’s initial endowment conditions are different, including the endowment conditions of the family they were born into, the institutional constraints they face, and the economic region they live in. These initial conditions vary greatly and form or even widen the differences in results in the sense of path dependence. Furthermore, in a certain sense, it leads to the wealth gap at the household level, the wealth gap under institutional constraints, and the wealth gap at the regional level. Therefore, the government needs to coordinate the income distribution system, especially focusing on low-income groups. The government needs to strive to provide wealth opportunities for different social classes by improving education equity, healthcare equity, and equalization of basic public services. The government needs to strive to provide equal and accessible opportunities for high-quality education and human capital accumulation for children from different social classes. The improvement and accumulation of personal abilities, as well as the channels provided by society for diligence to promote prosperity, will to some extent reshape the long-term income distribution pattern. The whole society needs more praise and encouragement for hard work. The government needs to promote common prosperity by formulating policies and measures such as optimizing the distribution system, improving social mobility, enhancing equal opportunities, promoting educational equity, and accelerating factor mobility.
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Published: 20 April 2025
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