Raj Chetty, an economist from Harvard and director of Opportunity Insights, discusses groundbreaking research on economic mobility. He reveals that poor individuals connected to diverse social networks have better financial outcomes than those limited to similar economic backgrounds. Chetty explores the implications of community ties on children's long-term prospects and critiques the current state of the American Dream. He addresses the significance of policy changes to combat economic segregation and enhance opportunities for low-income families.
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.
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