The Gilded Age and Beyond: The Persistence of Elite Wealth in American History https://www.nber.org/papers/w33355#fromrss
"We find a non-linear association between grandparental wealth and being in the top 1%, such that having a rich grandparent exponentially increases the likelihood of reaching the top 1%."
"We find a non-linear association between grandparental wealth and being in the top 1%, such that having a rich grandparent exponentially increases the likelihood of reaching the top 1%."
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