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Started By
Message
Americans Greatly Overestimate Economic Mobility
Posted on 2/15/17 at 12:07 pm
Posted on 2/15/17 at 12:07 pm
quote:
Population data on social class mobility in the United States collected between the years of 1996 and 2007 show that less than one percent of people from the bottom 20% of income (less than $18,500 for a household) moved to the top 20% of income (more than $92,000), and roughly one in ten individuals move out of the bottom 20% by working 1,000 extra hours
quote:
Last year, Michael Kraus of Yale University and Jacinth Tan of the University of Illinois recruited 752 participants from Amazon's Mechanical Turk and asked them to estimate social class mobility. Specifically, they questioned them on the aforementioned data. Participants' estimates were way off. They guessed that sixteen percent would rise from the bottom 20% to the top 20%, 35% of people would make it out of the bottom 20% by working 1,000 extra hours.
LINK
quote:
and the effect is most pronounced among younger Americans, conservatives, and those who perceive themselves to be in a higher social class.
22
Posted on 2/15/17 at 12:09 pm to GreatLakesTiger24
Yeah, but that won't be me. My photography will make me rich.
Posted on 2/15/17 at 12:10 pm to GreatLakesTiger24
Well, when most of our country's wealth is horded by the rich NE elites, it is hard for the rest of us to make gainz.
Posted on 2/15/17 at 12:10 pm to GreatLakesTiger24
So 125 extra days of work. How little were they working before???
Posted on 2/15/17 at 12:11 pm to GreatLakesTiger24
Let me see if I can find it, but there was a study put out recently where someone born in poverty in Canada is twice as likely to get out of it as someone born in the US.
Of course that's an average, and changes dramatically by state.
Of course that's an average, and changes dramatically by state.
This post was edited on 2/15/17 at 12:29 pm
Posted on 2/15/17 at 12:11 pm to GreatLakesTiger24
Capitalism is second only to religion in marketing bullshite.
Posted on 2/15/17 at 12:11 pm to GreatLakesTiger24
well shite...guess I should just stop trying to better myself 
Posted on 2/15/17 at 12:13 pm to Doldil
quote:
well shite...guess I should just stop trying to better myself
Yes, that was the exact point he was trying to make.
Posted on 2/15/17 at 12:14 pm to Doldil
quote:no, but maybe you should manage your expectations
well shite...guess I should just stop trying to better myself
This post was edited on 2/15/17 at 12:14 pm
Posted on 2/15/17 at 12:14 pm to GreatLakesTiger24
quote:
less than one percent of people from the bottom 20% of income (less than $18,500 for a household) moved to the top 20% of income (more than $92,000),
Am I reading this wrong? Is there an expectation for those in the bottom 20% move to the top 20% in 11 years?
Posted on 2/15/17 at 12:16 pm to GreatLakesTiger24
Places like Seattle, Portland, San Jose Valley, Omaha showed the greatest chance at upward mobility. While places like Chicago, Memphis, Atlanta, and New Orleans showed the poorest chance at upward mobility.
Think about it.
Think about it.
Posted on 2/15/17 at 12:18 pm to kywildcatfanone
An expectation? No.
But it is definitely a widely held belief that it is a very attainable goal.
But it is definitely a widely held belief that it is a very attainable goal.
Posted on 2/15/17 at 12:21 pm to colorchangintiger
quote:
Places like Seattle, Portland, San Jose Valley, Omaha showed the greatest chance at upward mobility. While places like Chicago, Memphis, Atlanta, and New Orleans showed the poorest chance at upward mobility.
Posted on 2/15/17 at 12:21 pm to GreatLakesTiger24
I'm not really surprised that so few have jumped from the bottom 20% to the top 20% nationwide. I would assume that the bottom 20% is largely uneducated, lacking even GED credentials... there's not much opportunity for that segment of society to move up, especially move up all the way to the top 20%.
Would be curious to see more numbers on how many of the 21-40% and 41-60% groups moved up to the top 20%...
Would be curious to see more numbers on how many of the 21-40% and 41-60% groups moved up to the top 20%...
Posted on 2/15/17 at 12:22 pm to Lakeboy7
quote:
Capitalism is second only to religion in marketing bullshite.
Well I guess we can be socialist then and ALL of us be poor.
Posted on 2/15/17 at 12:22 pm to GreatLakesTiger24
I question the methodology, and Nassim Taleb, to name one, would rip a study like that to shreds.
It's a psychology study, not an economics study. Are they taking into account effects of public assistance? Time fluctuations? Purchasing power?
It's a psychology study, not an economics study. Are they taking into account effects of public assistance? Time fluctuations? Purchasing power?
Posted on 2/15/17 at 12:23 pm to GreatLakesTiger24
It's all about who you know.
Posted on 2/15/17 at 12:23 pm to colorchangintiger
I wonder if perhaps demographics or any other social information would be helpful here. Or if the numbers skew toward any particular groups. I understand the intent here is to show how evil and mean American conservatives are, but does anyone ever ask the question "why" after any of these studies?
Terrible family structures/values, lack of education, and a general entitlement mentality contribute to this issue substantially.
Terrible family structures/values, lack of education, and a general entitlement mentality contribute to this issue substantially.
This post was edited on 2/15/17 at 12:25 pm
Posted on 2/15/17 at 12:24 pm to colorchangintiger
quote:
Places like Seattle, Portland, San Jose Valley, Omaha showed the greatest chance at upward mobility. While places like Chicago, Memphis, Atlanta, and New Orleans showed the poorest chance at upward mobility.
Think about it.
that is a dark statistic.
Posted on 2/15/17 at 12:24 pm to LSUBoo
quote:
Would be curious to see more numbers on how many of the 21-40% and 41-60% groups moved up to the top 20%...
Probably a better indicator of true mobility
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