Rationally Speaking #144 - Bryan Caplan on "Does parenting matter?"
Rationally Speaking Podcast
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The Correlation Between Income Mobility and Parent's Income
There's definitely a correlation between that we can observe in the American population between your income and your parents' income. But it really doesn't look like that's the story, actually. The nature of the world economy is definitely in the something else category. Your parents don't decide which planet you're on. They don't decide what area you live in. So there can be all kinds of environmental changes going on, and yet still, heredity can explain all the similarity regarding child.
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