4 ms·
The percent of totally self-made rich seems to be around 56%, and partially self-made is at around 30%. Note also that the proportion of self-made rich people i
by logicprog 6y ago
The percent of totally self-made rich seems to be around 56%, and partially self-made is at around 30%. Note also that the proportion of self-made rich people is actually growing, even as the amount of wealth the rich has has decreased a bit[1] (methodology of the quoted study[2]). Also take a look at this intergenerational income mobility chart in figure 3 of a Pew study[3]; it says that people are
"likely" to stay poor, but that's actually less than half, so I would say it's more like "unlikely."
[1]: https://www.cnbc.com/2019/05/10/wealthx-billionaire-census-majority-of-worlds-billionaires-self-made.html https://www.cnbc.com/2019/05/10/wealthx-billionaire-census-m...
[2]: https://www.wealthx.com/approach/methodology/ https://www.wealthx.com/approach/methodology/
[3]: https://www.pewtrusts.org/~/media/legacy/uploadedfiles/pcs_assets/2012/pursuingamericandreampdf.pdf https://www.pewtrusts.org/~/media/legacy/uploadedfiles/pcs_a...
- entropicdrifter 6y agoThat Pew study you cited is from 2012. It's an interesting read, for sure, but do you have any more recent studies? It seems that some factors that dampen economic mobility have been worsening since then[1] and the wealth gap has grown significantly since then, especially between the top 5% and the rest of us[2] [1] https://www.pewtrusts.org/en/research-and-analysis/reports/2018/04/american-families-face-a-growing-rent-burden https://www.pewtrusts.org/en/research-and-analysis/reports/2... [2]https://www.pewsocialtrends.org/2020/01/09/trends-in-income-and-wealth-inequality/ https://www.pewsocialtrends.org/2020/01/09/trends-in-income-...