Income Mobility: Up & Down the Economic Ladder
Income Mobility: Up & Down the Economic Ladder
Senior Seminar
July 29, 2009
Income Mobility: Up & Down the Economic Ladder
People always say they do what they do to make life better not only for themselves, but for the future well-being of their children and hopefully those actions will get passed on to their children. This is my way of thinking of the paying it forward theory; giving all I have, to make the lives of my children better than the one I grew up with and the one I currently live. One of my most favorite quotes about getting ahead in life came from a philosopher and pastor Russell Conwell that is hand-written by my grandmother in a Bible that was given to me some years ago. It goes like this, “For a man to say, I do not want money, is to say, I do not wish to do any good to my fellow men" (Conwell). Everyone wants money, only if it is to do good for your family’s future. From the rich business professional perched high in their penthouse to the lowly street peddler on the corner, everyone has a story on how and why they ended up in that position. The United States is seen as the place where everyone has the opportunity of the “American Dream”. That includes the opportunity for one 's children to grow up and attain to their fullest potential in which they are capable of, and seen for what they are and not what they are born with. It is the opportunity to make individual choices without the restrictions of class, religion, race, or ethnic group. In this research paper, I will explore the different aspects of income mobility, by looking at some intragenerational and intergenerational mobility issues. Then I will also breakdown and show some of the different economic mobility indicators and how they play an important role on how income mobility is measured. So, what does income or economic mobility mean? According to Isabel Sawhill of the Brookings Institute: Economic mobility is the ability
Senior Seminar
July 29, 2009
Income Mobility: Up & Down the Economic Ladder
People always say they do what they do to make life better not only for themselves, but for the future well-being of their children and hopefully those actions will get passed on to their children. This is my way of thinking of the paying it forward theory; giving all I have, to make the lives of my children better than the one I grew up with and the one I currently live. One of my most favorite quotes about getting ahead in life came from a philosopher and pastor Russell Conwell that is hand-written by my grandmother in a Bible that was given to me some years ago. It goes like this, “For a man to say, I do not want money, is to say, I do not wish to do any good to my fellow men" (Conwell). Everyone wants money, only if it is to do good for your family’s future. From the rich business professional perched high in their penthouse to the lowly street peddler on the corner, everyone has a story on how and why they ended up in that position. The United States is seen as the place where everyone has the opportunity of the “American Dream”. That includes the opportunity for one 's children to grow up and attain to their fullest potential in which they are capable of, and seen for what they are and not what they are born with. It is the opportunity to make individual choices without the restrictions of class, religion, race, or ethnic group. In this research paper, I will explore the different aspects of income mobility, by looking at some intragenerational and intergenerational mobility issues. Then I will also breakdown and show some of the different economic mobility indicators and how they play an important role on how income mobility is measured. So, what does income or economic mobility mean? According to Isabel Sawhill of the Brookings Institute: Economic mobility is the ability
Cited: Arrow, Kenneth J. Meritocracy and Economic Inequality . Princeton: Princeton University Press, 2000. Burt, Ronald S. "Structural Holes." Grusky, David B. and Szonja Szelenyi. The Inequality Reader: Contemporary and Foundational Readings in Race, Class, and Gender. Boulder: Westview Press, 2007. 498-502. Case, Anne, Darren Lubotsky, and Christina Paxson. 2002. “Economic Status and Health in Childhood: The Origins of the Gradient.” American Economic Review 92(5): 1308- 1334. Conwell, Russell H. "Acres of Diamonds". New York: Harper & Brother Publishers, 1915. Ehrenreich, Barbara. Bait and Switch: The (Futile) Pursuit of the American Dream. New York: Metropolitan Books, 2005. Reynolds, Alan. Income and Wealth . Westport: Greenwood Press, 2006. Scott, Janny. "Life at the Top In America Isn 't Just Better, It 's Longer." Grusky, David B. and Szonja Szelenyi. The Inequality Reader: Contemporary and Foundational Readings in Race, Class, and Gender. Boulder: Westview Press, 2007. 503-510. Vortruba-Drzal, Elizabeth. 2003. “Income Changes and Cognitive Stimulation in Young Children’s Home Learning Environment.” Journal of Marriage and Family 65(2): 341- 355.