Yes, Your Parents’ Status Does Influence Your Earning Power

[Valjean]

Huh?
I remember things picking up under Reagan.
It was under Carter, his predecessor, that we were in the "malaise".

They did -- for a while, but you can only live so long on credit.
It was a bubble.

 

[suncowiam]

"Your rejection of even one story that contradicts the narrative speaks for itself."

Oh yes, that is what I am saying. It is only money that makes a person "successful", yes that is my argument.

I don't think you know what a correlation is and my objection is to you trying to make this about you.

I know what a correlation is.

Repeating this again. I'm not challenging the original OP. There were additional assertions that hard work does not pay off. I'm challenging that and asserting that it is a artificial limit done internally and not externally. Hard work is a must but will have better odds when done with smart planning and patience for those that were not given a "fair" chance.

I'm not sure what to say about your objection about one story, particularly my story. I'm not sure why you're not rejecting others for their accounts and experiences, yet, you choose to single out my account. You personally can reject my story but asserting some further communal logic barring me from sharing my story is far-fetched on a social forum. I think it's relevant to the discussion. You can bring that up with the mods and get back to me. Until then, I won't address this argument again.

 

[Revoltingest]

They did -- for a while, but you can only live so long on credit.
It was a bubble.

Living on credit is hardly blamable on the Chicago school of economic thought.
No, Keynes is more culpable.

 

[Jeremiahcp]

I know what a correlation is.

Repeating this again. I'm not challenging the original OP. There were additional assertions that hard work does not pay off. I'm challenging that and asserting that it is a artificial limit done internally and not externally. Hard work is a must but will have better odds when done with smart planning and patience for those that were not given a "fair" chance.

I'm not sure what to say about your objection about one story, particularly my story. I'm not sure why you're not rejecting others for their accounts and experiences, yet, you choose to single out my account. You personally can reject my story but asserting some further communal logic barring me from sharing my story is far-fetched on a social forum. I think it's relevant to the discussion. You can bring that up with the mods and get back to me. Until then, I won't address this argument again.

"There were additional assertions that hard work does not pay off."

Where?

"I'm not sure what to say about your objection about one story, particularly my story. I'm not sure why you're not rejecting others for their accounts and experiences, yet, you choose to single out my account. You personally can reject my story but asserting some further communal logic barring me from sharing my story is far-fetched on a social forum. I think it's relevant to the discussion. You can bring that up with the mods and get back to me. Until then, I won't address this argument again."

Don't care.

 

[Valjean]

Revoltingest said:
Living on credit is hardly blamable on the Chicago school of economic thought.
No, Keynes is more culpable.

Reagan was unwittingly applying a Keynesian solution to the stagnation when he injected large sums of government money, much of it military, into the economy. The stimulus worked -- for a while, but he failed to follow up. He slashed taxes (and was later forced to raise them something like 11 times). His "voodoo economics" was the beginning of the 30+ year stagnation and "trickle up" we've been experiencing.

 

[suncowiam]

"There were additional assertions that hard work does not pay off."

Where?

"I'm not sure what to say about your objection about one story, particularly my story. I'm not sure why you're not rejecting others for their accounts and experiences, yet, you choose to single out my account. You personally can reject my story but asserting some further communal logic barring me from sharing my story is far-fetched on a social forum. I think it's relevant to the discussion. You can bring that up with the mods and get back to me. Until then, I won't address this argument again."

Don't care.

"It appears not to be. Lots of people still think that all it takes to get ahead (i.e. do better than your parents) is to work hard."

I'm one of those person with a personal story that actually contradicts this.

What is your story if you don't mind me asking? And could it relate to the OP and the continuing dialog?

 

[Jeremiahcp]

"It appears not to be. Lots of people still think that all it takes to get ahead (i.e. do better than your parents) is to work hard."

I'm one of those person with a personal story that actually contradicts this.

What is your story if you don't mind me asking? And could it relate to the OP and the continuing dialog?

I think you need to learn how to read.

"Lots of people still think that all it takes to get ahead (i.e. do better than your parents) is to work hard." - @Sunstone

My personal life is not for posting on the forums.

 

[suncowiam]

I think you need to learn how to read.

"Lots of people still think that all it takes to get ahead (i.e. do better than your parents) is to work hard." - @Sunstone

I read fine.

I think its bit a nit-picky, but sure, to be successful is a combination of hard-work, smart planning, will and patience for those with an "unfair" start in life. Luck is also involved.

But a core component is and will always be hard work for those that weren't born into success.

 

[Jeremiahcp]

I read fine.

I think its bit a nit-picky, but sure, to be successful is a combination of hard-work, smart planning, will and patience for those with an "unfair" start in life. Luck is also involved.

But a core component is and will always be hard work for those that weren't born into success.

"Luck is also involved."

AKA: opportunity.

 

[suncowiam]

My personal life is not for posting on the forums.

Fair enough.

I'm going to go enjoy my weekend and will be logging off. Hope you do the same.

 

[suncowiam]

"Luck is also involved."

AKA: opportunity.

Like I said previously, not everyone will have the same chances in life. I don't think there will ever be a system to do this. It is what it is and we just have to build on top of it.

Ok, my last post until later. Have a good one.

 

[Sunstone]

But a core component is and will always be hard work for those that weren't born into success.

No one is arguing that hard work isn't necessary to get ahead. But hard work is not in and of itself sufficient. And the odds are now stacked against you in many countries -- if you are not born to wealth -- even with hard work.

 

[Jeremiahcp]

Like I said previously, not everyone will have the same chances in life. I don't think there will ever be a system to do this. It is what it is and we just have to build on top of it.

Ok, my last post until later. Have a good one.

"not everyone will have the same chances in life. "

No one here has suggested otherwise.

 

[Milton Platt]

It appears not to be. Lots of people still think that all it takes to get ahead (i.e. do better than your parents) is to work hard.

Working smart is also required as well as adequate role models and education.

 

[LuisDantas]

It's not a myth.

Oh, it sure is.

Call it "insufficiently grounded on facts of reality" if you must.

It just isn't the norm.

Well, that is the whole thing, isn't it?

I wish we lived in a world that conspired to make people prosper according to their dedication and willingness to put up effort into their projects.

We do not.

But it is doable, provided that working hard is coupled with healthy doses of luck & smarts.
I know one guy who left an orphanage with only the clothing on his back, yet he is later
worth hundreds of millions. He started a business, & worked his arse off for many years.

Exceptions always exist, certainly.

 

[Eliab ben Benjamin]

My parents status or lack thereof, have or had no bearing on my ability to either learn or earn.. My own desire to learn effects my ability or deficiency in earning a living and doing well or poorly ...

Though i do resent the opinion of some employers who have refused me employment on the grounds "you are overqualified !"

 

[Revoltingest]

Exceptions always exist, certainly.

There are far more exceptions, such that myth evaporates.

 

[Valjean]

There are lots of people working two or three menial jobs just to make ends meet. It's not a matter of laziness vs hard work.

 

[suncowiam]

No one is arguing that hard work isn't necessary to get ahead. But hard work is not in and of itself sufficient. And the odds are now stacked against you in many countries -- if you are not born to wealth -- even with hard work.

When has the odds ever been fair to every individual in human history?

There are many other factors outside of earning power that limit the quality of life for humans that could never be controlled.

Life by definition is random.

I share a uptopian dream but I like to say I'm a bit more "realistic" at my approach. I don't think our civilization is mature enough and especially technologically advanced enough to implement it. I vote in favor of certain ideals like universal healthcare, but I do not rely on it. In the mean time, I think we should do best with what we're capable of controlling in the environment were forced with.

We all live in this same environment, for the most part, particularly I'm referring to Western cultures. Yes, the odds are stacked against most people but yet some can and have found success. Was that all random luck as some are suggesting?

 

[Confucian Mormon Buddhist]

It appears not to be. Lots of people still think that all it takes to get ahead (i.e. do better than your parents) is to work hard.

Those aren't hardly contradictory views. We know that higher status parents improve your starting position. We also know that individual effort yields rewards. So what's the point of the conversation?