By definition, the odds of getting into the top .5% have to be very slim because only .5% of the population can get in there.
No, by definition, the odds of being in the top .5% at any given moment are very slim. In a system with a high degree of economic mobility, it's conceivable that people would enter (and leave) the top N% at a reasonably high rate. Whether or not such high mobility is a good thing is certainly an open question, although the author certainly seems to think it should be higher than it is now.
No, by definition, the odds of being in the top .5% at any given moment are very slim. In a system with a high degree of economic mobility, it's conceivable that people would enter (and leave) the top N% at a reasonably high rate. Whether or not such high mobility is a good thing is certainly an open question, although the author certainly seems to think it should be higher than it is now.