James Heckman on Inequality and Economic Mobility
EconTalk
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The American Dream and Economic Mobility
This chapter explores two significant studies on the American Dream and the effects of neighborhoods on economic mobility in the U.S. It critiques the methodologies used in these studies, emphasizing the importance of family background and environmental factors, while highlighting the decline in the likelihood of outperforming one's parents economically. The discussion also contrasts the U.S. with Denmark, delving into the complexities of social mobility, income inequality, and the role of personal choice in shaping economic outcomes.
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