Finally, while more meaningfully integrative institutions are important, they do not negate efforts to directly strengthen financial well-being for lower-income folks. We need more supportive institutions and more wealth. It's both/and. /end
Earlier this week, Raj Chetty, @stroebel_econ & co-authors released a pair of papers looking at social capital and economic #mobility. Turns out it’s not just what you know, but *who* you know that matters for getting ahead… 🧵 1/
Next, we need to be careful that the policy solution doesn’t turn into reductive charity, with things like programs where high SES folks send their kids to “economically inclusive camps” for a few weeks in the summer. There’s much deeper work to be done. /13