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The Independent:
Just believing you are trapped by a lack of opportunity can impact economic growth

11 November 2019

If, as Aiyar and Ebeke argue, low intergenerational mobility is a good proxy for inequality of opportunity, then its steep decline in Britain has alarming implications for the economy. According to researchers at the University of Surrey and the London School of Economics, in 2005, 62 per cent of people aged between 28 and 32 earned as much or more than their fathers did at the same age. But by 2018, that share had fallen to 36 per cent.
Jo Blanden, Stephen Machin and Sumaiya Rahman

This blog post is based on 'Falling Absolute Intergenerational Mobility' presented at the Royal Economic Society Annual Conference 2019.

Read more... The Independent