June 29, 2007
What Keeps Poor People Poor
Despite our self-image as a country of great social mobility, a surprising proportion of children born poor in America grow up to be poor. The immediate causes of their poverty as adults are not in much dispute. One big factor is not working full time, year round. Another is not saving for a rainy day, or for investment in occupational tools or training. The real question is why these patterns prevail among the poor.
On the surface, the behavior looks paradoxical. The economics
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