News for hackers. Stuff that matters.

A comment on How to get rich without getting lucky (2018). Parent comment

Re:How to get rich without getting lucky (2018) by curo on Thursday June 06, 2019 @09:27PM (#20120844)
> inter-generational wealth mobility in the US is quite low, much lower than in most of Europe

I was surprised by this so I looked up a few sources. Not saying it's not true but we must be looking at different sources, here's a chart on "intergenerational earnings elasticity and with only a couple European countries (Italy and UK) slightly above the US:

https://en.wikipedia.org/wiki/Social_mobility#/media/File:Th...

[ Parent | on HN ]
Re:How to get rich without getting lucky (2018) by the_gastropod on Thursday June 06, 2019 @09:45PM (#20120943)
I think you're misreading the graph. The Y axis is immobility. In other words, Italy and the UK have lower mobility than the US. Every other European country on the list has greater mobility.
[ Parent | on HN ]
Re:How to get rich without getting lucky (2018) by darpa_escapee on Thursday June 06, 2019 @09:43PM (#20120931)
You've read the figure incorrectly. Smaller values for Intergenerational Earnings Elasticity represent greater equality of opportunity[1] and correlate with less inequality.

[1] https://www.businessinsider.com/intergenerational-earnings-e...

[ Parent | on HN ]