Is this inflation adjusted?
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of course.
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This graph appeared in my labor econ class
@ Purduepic.twitter.com/1RdPmMIqgb
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Mostly what I’m seeing in this graph is that if you were born in 1960, there’s more than a 50% chance of having higher income than your parents up to the 80th percentile or so. Born in 1980 that switch happens at the 30th percentile. Massive change.
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Hmmm....usually this is a pretty bad sign for social stability and political unrest....
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You can only fall so far.
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Has a lot to do with whether or not someone was raised in a single parent home. When you control for that, mobility has pretty much remained constant.https://scholar.harvard.edu/hendren/publications/united-states-still-land-opportunity-recent-trends-intergenerational-mobility …
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Who needs more money when loads of the old expensive stuff is practically free?
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My dad was born in the 30's. He was a successful MD. Growing up, we were surrounded by other MD's, Attorneys, Captains of Industry, etc. Gods. I know long ago that I would never earn what my did even in nominal terms.
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