Do the rich stay rich throughout generations? It depends on which groups you look at.
European immigrants who came to America between 1850 and 1924 arrived with very little money—but their descendants caught up to the native white population by the late 20th century.
There's been a far slower closing of the black-white wealth gap—suggesting that ongoing income differences, not inherited wealth, are likely the main driver.
@RAVerBruggen breaks down a working paper from economist Brian Marein that has important implications for how we think about inequality⬇️
