2/18/2023 0 Comments Economic mobility![]() ![]() Sports were another likely answer that proved underwhelming in Chetty’s research. ![]() Friendship groups there tended to reflect socioeconomic status, not transcend it. There is some intermixing, of course, but not much. But Chetty’s study found that college friendships also cluster by economic status. You might think schools are the answer, but in the absence of vouchers for school choice, most public schools are just mirrors of their neighborhoods and replicate the residential income stratification in the local housing market.Ĭollege? Sure! At least a little bit. That may not sound surprising, since exposure to upper income people could introduce others to behavioral norms, entrepreneurial ideas, or investment habits (among many other possible influences) that have contributed to wealth creation, but the study goes on to elaborate where those friendships develop. That is, if you are poor, it helps your financial prospects to have wealthier friends. Recently, Harvard University Economist Raj Chetty and a team of researchers analyzed the Facebook accounts of more than 72 million users ages 25-44 and found that cross-income friendships are a key determinant of upward mobility. What if that solution was found in our churches? Our state could make a million policy changes to prevent our citizens from living paycheck to paycheck, but that solution is not likely found under the Democrat-led Capitol dome. It’s a state that leaves people shaking their heads in hopelessness and asking, “how will I ever get ahead?” The median home price is above $800,000 and our state sales and income taxes are the highest in the nation. Gas prices make every trip to the gas station gut-wrenching. Green-energy schemes drive our electricity rates 80-percent above the national average. It’s tough to survive in California if you’re poor.
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