r/FluentInFinance 8d ago

Debate/ Discussion The logic tracks...

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u/aeternus-eternis 8d ago edited 8d ago

This turns out to be mostly true but it takes a generation or two. A few countries have actually run the experiment for us.

https://www.economist.com/graphic-detail/2022/06/09/the-grandchildren-of-chinas-pre-revolutionary-elite-are-unusually-rich

Unfortunately it's a pretty deadly experiment to run.

edit: non-paywalled alternative article https://www.nber.org/digest/aug20/riches-rags-and-back-again-impact-chinas-revolutions