#728 - Gregory Clark - Is Social Status Determined By Your Genetics?
Modern Wisdom
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Society's Predictable Social Mobility
Predicting and addressing poverty is difficult because people from higher social strata can also fall into poverty due to bad luck. Economics has achieved little in predicting economic outcomes, showing randomness in macroeconomics. However, social mobility at a group level follows a predictable pattern, akin to a physics law, where the social status of a group can predict the status of their descendants for multiple generations, resembling clairvoyance.
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