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Yves here. Identifying the various mechanisms by which the rich pass their advantages to their offspring is an important line of inquiry. However, perhaps because it is hard to parse out for analytical purposes, one advantage of growing up in a wealthy household is acquiring class markers. For the British, it’s the posh accents (particularly the ones acquired at public schools) as well as learning skills that are typically expensive to acquire, like riding horses and skiing, or in the US, sailing (the exceptions for people of modest means are living in communities where those are routine activities, so for skiing, living in a mountainous areas, or in a place like New Zealand, where many middle class families sail). In America, another class marker that few members of the PMC seem to have mastered is the easy affability and beautiful manners of those who come from East Coast old money families.

United statesNew zealandUnited kingdomJamie hentall maccuishCormac odeaSreevidya ayyarUniversity college londonYale universityNational child development studyNational child developmentEast coastResearch assistantUta boltEric frenchMicroeconomic analysisPublic policy