Re:Why is the stock market rallying when the economy is so bad?
by golergka on Monday May 11, 2020 @04:09AM
(#23139909)
But intelligence is directly connected to it, too. And I'm not even speaking about generic aspect: it's the cultural thing of how important education is perceived to be. In Russia, two generations after the revolution you could still guess where did the family originally come from originally by this cultural divide alone.
Re:Why is the stock market rallying when the economy is so bad?
by ulucs on Monday May 11, 2020 @08:09AM
(#23141230)
Wealth is (obviously) corralated with many properties that make it easier to gain wealth. To look at the effect of parents' wealth (and solely that) on children, you need to look into lottery winners or Bitcoin/APPL holders.
The counterpoint is the richest Southern families quickly recovered their positions in the years after the Civil War [1]... but that relied heavily on racist policies, and of course these families still owned capital like land.
0: http://www.pewtrusts.org/~/media/assets/2015/07/fsm-irs-repo...
1: https://www.nber.org/papers/w25700?utm_campaign=ntwh&utm_med...