Saturday, May 21, 2016

So much for the Ayn Rand bootstraps myth

See this article. Most tend to end up where they started on the socioeconomic ladder. I know, they must be lazy and deserve it because they just didn't try hard enough. Or whatever that insipid ideology rationalizes.

"But perhaps even more striking is the strength of the relationship between parental and adult income for both sexes. Children from poor families are much less likely to work in adulthood than children from middle-class families. Only about 60 percent of children from the poorest families are working at age 30, compared with 80 percent of children from median-income families. And the relationship extends beyond the very poor; the higher a person’s parents were on the earnings ladder, the more likely he or she is to work as an adult."

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