As a Danish study shows, parental income determines our life chances – but in what way differs according to how rich they are
Parents shape our lives. There’s the love or its absence – and the genetics. On the financial side, academics focus on intergenerational income persistence (how much parental income determines our own) and its inverse (social mobility).
This varies between countries. Economist Miles Corak has shown that higher inequality nations tend to be less socially mobile. When the rungs on the ladder are far apart, individuals born poor struggle to climb them.
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