FT.
"They’re drawn from a new paper by Miles Corak (hat-tip Toby Nangle), looking at how intergenerational mobility fares under high inequality. Not well.
Corak notes that part of the answer appears to lie in “intergenerational transmission” of job market connections. As Corak notes, that can cover a lot — including university choice and capacity to do unpaid internships — but it seems overwhelmingly to the advantage of top earners."
"They’re drawn from a new paper by Miles Corak (hat-tip Toby Nangle), looking at how intergenerational mobility fares under high inequality. Not well.
Corak notes that part of the answer appears to lie in “intergenerational transmission” of job market connections. As Corak notes, that can cover a lot — including university choice and capacity to do unpaid internships — but it seems overwhelmingly to the advantage of top earners."
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