Why young people aren’t keeping up: from the Joneses to the Kardashians
“In simplest terms: affluent people tend to marry other affluent people, wealthier families tend to have fewer children than poorer ones and affluent parents are more able to invest resources in their children’s education and economic mobility.
These demographic patterns work to widen inequality among the world’s youth, relative to the inequality found among adults. Moreover, these adverse conditions are increasingly found to some degree across the world. As long as these demographic trends persist, they will continue to raise inequality among youth.”
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