Plain English with Derek Thompson

What’s the Secret of Success in America? This Economist Has Answers.

6 snips
Aug 23, 2022
Raj Chetty, a prominent economist known for his research on upward mobility in America, dives deep into the decline of the American Dream. He reveals that a child's chance of surpassing their parents’ income has drastically decreased over the decades. Chetty introduces captivating concepts such as 'father presence' and 'Lost Einsteins,' highlighting how local environments influence economic opportunities. He also contrasts neighborhoods like Minneapolis, thriving with potential, versus others where poverty persists generationally. Chetty’s insights challenge us to rethink success and inequality.
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ANECDOTE

Chetty's Upbringing

  • Raj Chetty's parents came from modest backgrounds in India.
  • His mother became the first female doctor in their community, highlighting the impact of access to education.
INSIGHT

Geography of Success

  • Upward mobility varies significantly across locations.
  • Moving to a high-mobility area early in life significantly improves a child's future prospects.
INSIGHT

Hyperlocal Opportunity

  • Upward mobility isn't uniform; it varies drastically even within cities.
  • This suggests local factors, not just regional ones, play a key role.
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