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Monday, June 28. 2010

Incomes on the move

Income mobility in America is remarkably high due to our (still) free market economy. That is a good thing. The permanently poor are as unusual as the permanently rich, from an income standpoint.


People move up and down the income scale.


The study of income mobility in the US is here. (h/t, Tigerhawk's link dump)


 

Posted by The Barrister in Politics at 13:08 | Comment (1) | Trackbacks (0)

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Income mobility in Cuba, Russia, China and North Korea is very slight. Almost everyone is poor and a very few people get very rich or have a lot of privileges. Most rich people stay that way.
Income mobility in the EU is, I think, also very slight. Most people spend their lives in about the same quintile -- moving from a family in, say, the middle quintile, to unemployment at the low end of the middle quintile, to a job higher in the middle quintile, to a pension at the low end of the middle quintile.
#1 Geoff Brown on 2010-06-29 11:23 (Reply)

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