50 to 72 per cents is still a huge range, whether it's high or low. The poorest people do better than some of the richest people in terms are getting at of their parents. I don't think many of them will get the john bates clerk aword at 32. They're going to struggle its al ways,. either their despises, their measure challenges.
Economist Raj Chetty of Harvard University talks about his work on economic mobility with EconTalk host Russ Roberts. The focus is on Chetty's recent co-authored study in Nature where he finds that poor people in America who are only connected to other poor people do dramatically worse financially than poor people who are connected to a wider array of economic classes. The discussion includes the policy implications of this result as well as a discussion of Chetty's earlier work on the American Dream and the challenge of Americans born in recent decades to do better financially than their parents.