Re: how to compare living standards


"Ron Peterson" <ron@xxxxxxxxxxxxxx> wrote in message
news:1148698303.092245.70210@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Jim Blair wrote:
"Ron Peterson" <ron@xxxxxxxxxxxxxx> wrote in message
news:1148516328.499400.197990@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

I guess that's sort of the function of class reunions.

But a class reunion is much less representative than an age cohort, and
so
would show less spread in mobility.
It is restricted to those who completed some gven level of education
(high
school or college or whatever) and if your high school was anything like
mine, it was all kids from the same section of the same mid-west city: a
middle class district in Kansas City Missouri. Even the 1954 graduation
class of other high schools in KC would have been much different.
Lincoln
was all black, South West was mostly rich kids, and Central was a
lower-middle working class district.

I'm not sure what your hypothesis is.

Hi,

I was considering how to get reliable information on the overall population.
A particular class reunion is not representative. A survey of ALL of the
people born is a particular year would be much more representative. Because
in addition to being more geographically diverse, it would also include
those who dropped out of school, didn't attend the reunion, and would
include a wider range of social classes.

.....You seem to be saying that people
with less variance in education will have less variance income, ....

Er, it was income MOBILITY. But yes, I expect the greater the variance in
the education level and also in those other factors, the greater will be the
variance in incomes.


.....but
isn't that the same as saying more educated people will have higher
income than the less educated, ....

Over their lifetime I would expect that to be the case. But probably not
the case for early years. At age 16 for example. the HS dropouts would be
earning more,
and at age 24 those in graduate school would be on the bottom.

....or that wealthy people will have more
income than poor people?

??? A high income for very long should result in greather wealth. But it
does not always ;-(
And many who end up wealthy did so without ever having a very high income.


...Family reunions
give a little bit of that but the age groups are diverse.

But the point of your comment was to compare people of the same age.
Which
I supposed was to "correct" for the increase in wealth or income that is
expected to come with age and experience.

That's right.

One: why "correct" for it? It is a factor in income mobility.

But at any rate, I expect that looking at an age cohort (not a HS or college
class reunion) would show greater income mobility than a study of the
overall US population such as the Hubbard study. Because it would likely
show a nearly complete turnover in the income quintiles from ages 16 to 36..


A hypothesis needs to be stated.

That is mine. Data is needed.

.....If you took identical twins, educated
them to the same level and gave one an extra $100,000 then you expect
the poorer one to end up having a higher income than the richer one
after 20 to 30 years?

??? No. But that is another question.

The only problem is that a child from a well-to-do family is more
likely to get a college education and when that child goes to work,
the
child will earn considerably more than a person who worked his way
through school.

??? Any evidence to support that? My guess would be the reverse.

There was a study that showed that the wealthy do start at higher wages
than their equally educated cohorts.

But what about a decade or two later? And if the children of the rich do
better 20 years later, how much of that was because of genetics and how much
was connections?


From my experience teaching at Milton and Edgewood colleges was that it
was
the kids from poor families who worked and/or were on scholarship that
took
their classes more seriously than the kids from rich families who were
often
there more to please their parents.

When you are disadvantaged, you may try harder.

Unfortunately, children from the lowest economic quintiles are less
likely to start college.


--
Ron


Likely true. Again, is the reason genetics or culture or opportunity? I
think there are (or used to be) lots of scholarships for poor kids who show
interest and aptitude. And I would like there to be more. (And not only
for kids who are good at big money sports ;-)



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jim blair (jeblair@xxxxxxxx) Madison Wisconsin USA.
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