10 Matching Annotations
  1. Sep 2022
    1. Chetty’s paper reports that “the strongest and most robust predictor [of the level of upward mobility in an area] is the fraction of children with single parents.”

      Cross reference with: https://www.theatlantic.com/magazine/archive/2019/08/raj-chettys-american-dream/592804

      I should read more of Chetty's primary material here.

    1. In October, Chetty’s institute released an interactive map of the United States called the Opportunity Atlas, revealing the terrain of opportunity down to the level of individual neighborhoods.
    1. in discussing economic mobility across generations, we refer to theintergenerational elasticity statistic. Again, this ranges between 0 and 1 andindicates how strong the relationship is between parents’ income and theirchildren’s income.10
    2. Theidealized image of American society is one of abundant opportunities, withhard work being rewarded by economic prosperity. Consequently, those whofail to get ahead have only themselves to blame according to this argument. Itis within this context that America thinks of itself as a fair and meritocraticsociety in which people get what they deserve in life.

      There is a variety of confounding myths in America which tend to hold us down. These include economic mobility, meritocracy, poverty, and the land of opportunity.

      With respect to the "land of opportunity", does positive press of a small number of cases from an earlier generation outweigh the actual experience of the majority?


      There was a study on The Blitz in London and England in general in World War II which showed that despite high losses in general, enough people knew one or more who'd lost someone or something to the extreme but that the losses weren't debilitating from a loss perspective and generally served to boost overall morale. Higher losses may have been more demoralizing and harmful, but didn't happen. (Find this source: possibly Malcolm Gladwell??)

      Is this sort of psychological effect at play socially and politically in America and thereby confounding our progress?

  2. Jun 2022
    1. Between 1914 and 1980, inequalities in income and wealth decreasedmarkedly in the Western world as a whole (the United Kingdom,Germany, France, Sweden, and the United States), and in Japan,Russia, China, and India, although in different ways, which we willexplore in a later chapter. Here we will focus on the Western countriesand improve our understanding of how this “great redistribution”took place.

      Inequalities in income and wealth decreased markedly in the West from 1914 to 1980 due to a number of factors including:<br /> - Two World Wars and the Great Depression dramatically overturned the power relationships between labor and capital<br /> - A progressive tax on income and inheritance reduced the concentration of wealth and helped increase mobility<br /> - Liquidation of foreign and colonial assets as well as dissolution of public debt

  3. May 2021
  4. Oct 2020
  5. Aug 2020
  6. Jun 2020