The way some of these kids take in a movie brings a whole new meaning to the term “Netflix and chill.” While most of us do not don a tuxedo and head to a premier when a hot new movie comes out, we can relate to the excitement. That said, sweatpants and a container of lo mein still beats dressing up for a lot of us. No matter how much money you spent on your wardrobe, it will always look better with a pup in the pic. That’s just a fact.
The children of rich families tend to go to better quality schools, have higher cognitive skills, and complete more years of schooling. This column exploits unique data from the National Child Development study to determine these early childhood factors go on to have long-run impacts on an individual’s lifetime earnings, perpetuating a cycle of wealth. These results suggest that policies that equalise investments, such as improving school quality, could promote income mobility.
