Not to mention increasing lifespans. Boomers were richer sooner because their grands & parents died young. Boomers aren't dying so retain their wealth
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@Gladwell wrote a book about why (Outliers). Some folks are just born at the right time/place.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Deindustrialization was a choice and I doubt we would see this extreme a level of generational wealth disparity if it hadn’t happened.
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The chart is the origin story for the problem, not the problem itself. Luck + normalcy bias —> stagnant institutions and malinvestment —> social decay and lack of upward mobility for Gen X, Millennials, Zoomers —> upheaval and empire collapse
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Timing is critical! Ask Charlie Munger.
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Need to control for percent of US pop for each cohort at each age. Boomers were a much bigger fraction of total pop than are millennials etc.
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