New research, for the first time using actual income numbers from two generations of Australians, reveals they do not easily move from low-income to high-income bands, however mobility is greater than the US. The analysis also suggests that family structure -- who you're married to, when you have children and how many you have -- matters when it comes to income mobility.
NOTE: (I am posting this proper, so that it remains in my jnl). First of all, when we say that family matters re: future wealth, we must recognise that what we are simultaneously saying is that family is also a handicap when it comes to future wealth. The degree of handicap is less when the family is in an upper class. We have known for some years that class rarely changes for families and offspring, even over many generations, i.e., hundreds of years. Internal family dynamics or morals and morality, along with outside social dynamics and stigma, combine so that family retain their class position, over and over again, on and on. It hardly changes. So, when people say there are no conspiracies, they need to realise that everything is conspiracy.
If you are trapped in a lower middle class family, your siblings may achieve professional careers, whilst still retaining the olde moralities and strictures, such that you yourself might be condemned to a life of assumed guilt and sqalour, for that is what justice teaches. If those who apparently move into a higher position still maintain the same psychological drawbacks and dysfunctions, which are retained within the family, usually by projecting the blame onto less fortunate siblings.
If you start off in a poor family, the game is the same, and a few may end up a little poorer or richer than others, but, on the whole, the class of the family and its subsequent offspring tends to remain static. For you, the poor, you may be called an untouchable - but there are similar, though less obvious obstacles facing middle class and upper class families, such as the blame of being Catholic, or black, or immigrant, etc., - or of being neuveau riche, etc. Of course, the gates are wider open to the rich than they are for the lower, and lowest classes. But, even so, the game within rich families is comparable, and those families maintain class position through the ages, laregly through the transference of capital, which is ultimately a form of social credit or forgiveness from the wider society. For the poor: You got no money, then, you got very little forgiveness.
An interesting thing about the article above is that, even though both the USA and Australia make it hard fto rise upwards, through class, at least the opportunity to do so is greater in Australia than it is in the USA. And nso, I thank my family for landing me here, the land of hope and gory aspirations.