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Birthplace More Important Than Bootstraps In Economic Success

“The study — based on millions of anonymous earnings records and being released this week by a team of top academic economists — is the first with enough data to compare upward mobility across metropolitan areas. These comparisons provide some of the most powerful evidence so far about the factors that seem to drive people’s chances of rising beyond the station of their birth, including education, family structure and the economic layout of metropolitan areas.”

Cenk Uygur (http://www.twitter.com/cenkuygur), John Iadarola (http://www.twitter.com/jiadarola) and Miki Matteson (http://www.twitter.com/miki_matteson) break it down.

*Read More: http://www.nytimes.com/2013/07/22/business/in-climbing-income-ladder-location-matters.html

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