People I (Mostly) Admire
87. How Much Are the Right Friends Worth?
Sep 3, 2022
In this engaging discussion, Harvard economist Raj Chetty, a trailblazer in researching inequality and social mobility, dives into the crucial role of early education. He highlights how choosing the right teachers—and even friends—can shape long-term success. Chetty explores the decline of economic mobility in the U.S. and the importance of social connections for children from low-income families. The conversation also touches on ethical dilemmas in education and healthcare, emphasizing the need for equitable access and meaningful community support.
53:41
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Quick takeaways
- Higher levels of social capital, particularly economic connectedness, in a neighborhood or community are strongly correlated with higher rates of economic mobility.
- There are significant racial disparities in economic mobility, with black Americans having lower rates of upward mobility compared to white Americans.
Deep dives
Impact of Social Capital on Economic Mobility
Higher levels of social capital, particularly economic connectedness, in a neighborhood or community are strongly correlated with higher rates of economic mobility. People who grow up in areas with more cross-class interaction and social connections tend to have better chances of upward mobility and earning higher incomes as adults.
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