Comment on No Money, No TimeparentComments−jonny_eh12yThe number of people that can win an Olympic Gold is arbitrarily fixed. The number of people that can become financially successful isn't.−alexqgb12yAnd yet, for the last 30 years, the number of those who are successful relative to the rest of the population has suffered sharp decline.Do you honestly not know this? Or are you simply the sort of person who just doesn't mind?−yummyfajitas12yRelative mobility has remained flat and absolute mobility has increased.http://obs.rc.fas.harvard.edu/chetty/mobility_trends.pdf−alexqgb12yNot actually the point I was making but an interesting paper nonetheless.When I said "relative" I meant "relative to the population as a whole", not "relative to the members of one's class from prior generations."−logicchains12yFinancially successful doesn't necessarily mean the same thing as being financially "successful relative to the rest of the population", for what it's worth.
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The number of people that can win an Olympic Gold is arbitrarily fixed. The number of people that can become financially successful isn't.
And yet, for the last 30 years, the number of those who are successful relative to the rest of the population has suffered sharp decline.
Do you honestly not know this? Or are you simply the sort of person who just doesn't mind?
Relative mobility has remained flat and absolute mobility has increased.
http://obs.rc.fas.harvard.edu/chetty/mobility_trends.pdf
Not actually the point I was making but an interesting paper nonetheless.
When I said "relative" I meant "relative to the population as a whole", not "relative to the members of one's class from prior generations."
Financially successful doesn't necessarily mean the same thing as being financially "successful relative to the rest of the population", for what it's worth.