Thursday, August 12, 2010

Rags to riches

An interesting perspective. From the executive summary of Economic Mobility of Families Across Generations from the Pew Charitable Trust:

The "rags to riches" story is much more common in Hollywood than on Main Street. Only 6 percent of children born to parents with family income at the very bottom move to the very top.

Only? I would have said that for 6% from among the most impoverished in the nation to move to the richest in the nation in a single lifetime demonstrates a remarkable mobility.

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