Wednesday, February 10, 2010
The US has less intergenerational mobility than most Western countries
What a waste of human resources! While the correlation between individual and parental earnings is 0.15 in Denmark, 0.19 in Canada, 0.32 in Spain, it is 0.47 in the USA. This means that your position in life is determined by your parent's position more in the USA than othet Western countries. The children of poor people are destined to be poor. There is huge opportunity to increase the well-being of the US by providing more opportunity to its young citizens.