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Dude, we are faaaaaaaaar from equal opportunity. One of the largest predictors of one's ability to accumulate wealth is still the wealth of their own parents. T
by chickenpotpie 7y ago
Dude, we are faaaaaaaaar from equal opportunity. One of the largest predictors of one's ability to accumulate wealth is still the wealth of their own parents. The U.S. is one of the countries with the highest link between parents' and a child's wealth.
- bluGill 7y agoCitation needed. I hear this often, but no hard evidence that isn't easy to show is false.
- Shacklz 7y ago> Citation needed. Here you go: "The fading American dream: Trends in absolute income mobility since 1940", Raj Chetty et al. https://science.sciencemag.org/content/356/6336/398 https://science.sciencemag.org/content/356/6336/398
- denisw 7y agoI recommend „Capital in the 21st Century“ by Thomas Pikkety, an economist who has deeply studied wealth and income equality using historical data spanning three centuries. This book has all the evidence you need. https://www.amazon.com/-/de/dp/0674979850 https://www.amazon.com/-/de/dp/0674979850 Spoiler alert: income from wealth is on its way of becoming close to being as concentrated as it was in the 19th century (especially in the US), and the share of income from work in total national income is decreasing almost anywhere. So yes, increasingly you can only accrue significant wealth by already having significant wealth.