life chances of individuals
Life chances (Lebenschancen in German) is a social science theory of the opportunities each individual has to improve his or her quality of life. The concept was introduced by German sociologist Max Weber. It is a probabilistic concept, describing how likely it is, given certain factors, that an individual's life will turn out a certain way. According to this theory, life chances are positively correlated with one's socioeconomic status.
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