19 November, 2011

I think this ignores the "owns" versus "works at" phenomenon.

Inequality and Occupy Wall Street 4: daddy put you in the top 1% ! � milescorak: The bottom line is that about 40% of us have at some point worked for exactly the same firm that at some point also employed our fathers. But if dad’s earnings put him in the top 25% these chances are above average, they start taking off if dad was in the top 5%, and reach the stratosphere for top earners. Almost 7 out of 10 sons of top earning dads had a job with his employer.