IGPS: Intergenerational Income Persistence
Jan O. Jonsson and Carina Mood presented research about generational income inequality. Despite all income brackets on the whole doing better than their parents, if we have richer parents we are more likely to do better out of our education in terms of income. However, when comparing Sweden, the U.K. and the U.S. (Sweden having much lower correlation between parental/child income and the U.S. and U.K. having a bigger gap), it seemed that the bigger gap was not attributable to education, and instead was a direct result of the income itself. Unfortunately this means that we can’t just fix the education system advantage to reduce inequality but well done Sweden on having an education system, according to the figures, that is more likely to increase income mobility.