Monday, June 17, 2013

The American Dream

I think it was Thomas Jefferson who said, "We desire a nation where those who are born rich will probably have better lives, even without trying very hard...

So, you are 2.5x more likely to be a rich adult if you were born rich and never bothered to go to college than if you were born poor and, against all odds, went to college and graduated. The disparity in the outcomes of rich and poor kids persists, not only when you control for college attainment, but even when you compare non-degreed rich kids to degreed poor kids!
Therefore, the answer to the question in the title is that you are better off being born rich regardless of whether you go to college than being born poor and getting a college degree.

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