Your must-read blog post of the day is Russ Roberts on panel studies of income changes:https://medium.com/@russroberts/do-the-rich-capture-all-the-gains-from-economic-growth-c96d93101f9c …
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Of course, if you really want to see dynastic wealth in action, you should probably look at wealth, rather than income...
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actually, with all the technological progress (&income growth), its surprising that the high income earner's children have such dramatic dropoffs. Makes me think of genetic outliers, & drive. Very high IQ may not easily by transferable, neither is drive when born in comfort...
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