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Social Capital and Economic Mobility
May 31, 2023
Professor Raj Chetty discusses the importance of economic connectedness for social mobility, using data on friendships from Facebook. They explore factors influencing economic mobility and the role of social capital, highlighting the relationship between economic connectedness and upward mobility. The podcast also delves into housing voucher programs and innovative policies to improve economic mobility for working-class families.
01:33:10
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Quick takeaways
- Economic connectedness with high-income friends enhances long-term outcomes for low-income individuals.
- Reducing segregation, investing in low-opportunity areas, and leveraging higher education institutions are key strategies for enhancing economic opportunity.
Deep dives
Understanding Economic Mobility Trends in the US and UK
The podcast episode delves into the significant trends in economic mobility in the United States (US) and the United Kingdom (UK). It highlights a decline in the American dream of upward mobility, indicating that children born in the 1980s have a 50-50 chance of achieving greater income than their parents. Similar patterns are observed in the UK, revealing a parallel decline in economic mobility.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode