(@tylercowen interviews Raj Chetty, whose work is cited: https://medium.com/conversations-with-tyler/raj-chetty-tyler-cowen-inequality-mobility-american-dream-d5ea7f4742b1 ….)
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Inherited wealth allows earnings to be allocated to useful expenditure that generates meaningful (often non-financial) returns.
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Earnings of the vast majority are largely lost down the economic sink that is land value.
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Working on a startup addressing this
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Within a decade networks should be their own field of study. So much feeling around the elephant of it from different fields
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This is a great paper
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