Home > Uncategorized > The Great Gatsby Curve

The Great Gatsby Curve

from The Atlantic

Economists represent this concept with a number they call “intergenerational earnings elasticity,” or IGE, which measures how much of a child’s deviation from average income can be accounted for by the parents’ income. An IGE of zero means that there’s no relationship at all between parents’ income and that of their offspring. An IGE of one says that the destiny of a child is to end up right where she came into the world.

  1. July 7, 2018 at 3:00 am

    I would really like to see IGE plotted against time, as well.

  2. Helen Sakho
    July 7, 2018 at 3:20 am

    An inequality dished out to all future generations locally and globally, rooted in historical and geographical contextual specificities. In some place there is no social ladders to climb, only downwards if the children are lucky enough to find a parent who is still alive or a ladder s/he can hold onto until a rescuer happens to be passing by.

  3. July 8, 2018 at 8:05 pm

    An important qualifier to the mystical “American Dream,” and to the American insistence on disregarding, if not denying outright, the exist of “class.”

    The top 1% are insistent, as are a good percentage, but not all, of the next 20%, that they made it on their own, and some did. They fight very hard to make sure that the social democratic policies – a Second Bill of Rights (1944, FDR) never happens, which would be the best route to improving chances for upward social mobility. But of course, doesn’t answer all the pleas from Black Lives Matter, #MeToo and the powerful green movement in the U.S. the complications of race, gender and our relationship to nature.

    In America in the summer of 2018 we have signs in the political economy, in elections, which can give rise to hope, or despair.

    Thanks Edward.

  4. July 23, 2018 at 9:33 am

    Sapiens is a communal species. Its chances for life and survival are the result of communal actions. Its brain is designed to work in conjunction with others of its species. The high achievers of Sapiens communities may say otherwise to protect their relationships and what they’ve gained from those relationships. But when pushed to achieve some goal even these so called high achievers always rely on their relationships with other members of the species. They may denigrate these others and even claim they don’t need them for success. But their continued reliance on them puts the lie to these claims.

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