RCSSCI 220 Chapter 6: The Economics of Inequality, Poverty, and Discrimination in the 21st Century- Rycroft Reading Guide and Response
Document Summary
Inequality from generation to generation: the united states in comparison - Important to take a snapshot of inequality but also to look at long term intergenerational trends. Us has lower mobility than scandinavian nations, but the nations are too different for a comparative analysis. Canada has higher mobility than the us, and is a good starting point for analysis. A lower intergenerational income elasticity number means greater mobility, because it means the income difference between fathers, will not necessarily exist between son"s. This analysis requires estimates for lifetime earning potential because annual figures can vary greatly. Most also have data for both generations at one time. Mother daughter relationship has also been analyzed (factoring in some maternal choices) These kind of statistical analysis are still very difficult and somewhat problematic. Intergenerational elasticity of earnings is probably between . 4 and . 6. Some countries (denmark) are low with . 15 while countries like peru are at a high with . 67.
