Raj Chetty - Driving Upward Economic Mobility | Prof G Conversations
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- Опубліковано 2 лип 2024
- In this video from the Prof G Pod, Raj Chetty, the William A. Ackman Professor of Economics at Harvard University and the Director of Opportunity Insights, joins Scott to discuss research around higher education, specifically how elite universities shape who succeeds in the US. We also hear about broader trends regarding upward economic mobility and the role a child’s environment plays in creating opportunities for growth.
Follow Prof Chetty’s work at Opportunity Insights here:
/ oppinsights
Timestamps:
00:00 - Intro
00:51 - What were the most interesting findings from your higher education study?
02:30 - Has higher education become the new caste system?
05:59 - Should U.S. higher education institutions let in more students?
08:30 - What do you make of vocational training/paths to upward mobility outside of higher education?
11:59 - Can you speak more to the role friendship plays in economic mobility and success?
14:57 - How can we increase cross-class connections?
17:45 - How does upward mobility vary by gender?
21:41 - How do we create a society where boys are not lacking in good male role models?
25:04 - What countries can the U.S. learn from regarding opportunities for upward mobility?
27:15 - How do cities within the U.S. compare to one another?
30:06 - Algebra of Happiness: What career advice do you have for young people?
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Being near kids that were coming from wealthier family had a huge impact in my life. It gave me a network of people with influence, I could hear the story of their parents or grand parents going from nothing to building and empire. And it showed me that these people were not smarter than me (nor was i smarter than them). if they could do it I could do it too. I also saw my friends growing up with better opportunities and more financial security. This gave me a deep motivation to go get those things for myself.
Same here bro. Single mom on welfare but was lucky enough to grow up in Orange County CA and great men took me under their wing. It made all the difference
Who has time for quantum physics when.. the we are down 2 ends of the Wonderloaf and OSMW bolonga for sustaniance?
Where are your children? And why did u study this lady?
I lived my version of the American dream in Canada, I have always said the major contributing factor was my parents moving us into a neighbourhood of educated successful people, that I could look up too. My father built the home and my blue collar family struggled to make it happen , but I was never made to feel out of place only encouraged by my friends parents, some of whom I still keep in touch with 50 years later . I recently purchased that home so my parents could stay in the neighbourhood for their remaining years, and hope too keep it in the family for my kids.
Scott, I have listened to you on a number of podcasts and have enjoyed them. You are seeking answers to things that have occupied my thoughts on and off since since my days in the public school system in a major midwestern city in the '60's and 70's. One aspect of your discussions about getting ahead in America seems to me to be lacking. I don't hear much about career paths that involve licensure. I am an FAA licensed air transport pilot, an FAA licensed aircraft mechanic and inspector, and until a recent retirement, was a licensed member of the California bar. The former two do not require a college degree, but are a ticket to a middle class life. I could argue that holding a license to fix things with one's hands is a much better career course than getting a BA in Business at East Jesus State. The latter qualifies one to be night manager at McDonald's and there are no real shortage of people to do that job. All across America, employers are crying for people with hands on technical skills. I can safely say that IA/robotics are not going to replace aircraft mechanics any time in the life of anyone now alive. I am bombarded by requests for my mechanical skills in a way I never was as a lawyer or even a pilot. Ironic!
Very interesting point @kristinwinter5006!
Thanks so much, Scott, for your discussion with Raj. 😊🎉
I was an Associate Professor at a small college over 30 years ago. Your conversation is so insightful regarding the importance of developing realistic relationships with your supporters who believe in you.🎉❤
I only just found the Prof's appearance on Adam Corolla's podcast, very impressed that he gave some critique of the right's tendency to attack minorities and the trans community, great work. Also agreed on the part about where the left could learn more from the right, but that is easy to say there.
Thanks for bringing this discussion to the forefront.I can identify with many of these issues first hand as a product of a single parent family in an economically depressed, high crime neighbour. I was still able to move into the upper middle class through the support of a stranger who was charitable with their time and experience. I am hopeful that academia, government leadership and industry takes this research and does something in support of better future outcomes.
Early Childhood high-quality mentors and tutors has historically proven to incubate high-end, high-producing and achieving young adults.
Many of the world's Nobel prize-winning scientists had access to high-quality mentors early on and also leading into high-quality primary and secondary education.
As Prof G says, why the heck don't we just double the size of all of our top 50 colleges and universities freshman classes?!
I think of Hemingway in one of his poems: "It's hard to get rich in Canada, but it's easy to make money".
Yet ANOTHER great discussion. I would love to pass this along to the parents I know, however...they are too busy hustling it to stay afloat even though they are double-income families but not of the 10% of high income earners...😐
One of my husband's cousin was told by the high school college counselor that he would never go to college. The cousin became the president of the University of Minnesota. The kid came from a working class background.
Very interesting! Thank you!
Great podcast @Scott Gallaway. Perhaps the best (most feasible) advice came at 30:30.
I remember high school in the 70's when my friends, who were not college bound, started vocational programs in their Junior year and when they graduated started apprentice programs. Both the vocational programs and the apprentice programs seem to have evaporated.
Very good interview.
Hey Scott I was in Year UP Dallas and it changed my life and future.
Excellent as usual.....
This discussion is super interesting from my perspective growing up in Poland. What communist where doing great where shaping communities for they own goal, for example forcing people from multiple cultural, financial and education levels to move around the country and live in the same blocks = the same quality of life whoever you were.
Talk about the first generation college students that completely blow their chance for upward mobility by majoring in ethnic or women's studies, and taking on massive debt in the process.
It's amazing how much our demographic data can influence what we think our options are. What we see as our options fences what we think we can do, and in turn what we actually do.
Previously Scott Galloway has mentioned higher education moving online as a way to widen access. Has this just stopped happening or is it working to the benefit of people who already had good access to education anyway? Maybe there are links to other recent clues?
❤❤❤Skateboarding I worked In Louisville Kentucky, I skated their pool made new friends. Downey California
😂 same, I was the poorest kid single mom but the best skater in my group in OC, ca. I made friends with rich kids as they wanted to hang bc I could shred. Changed my life for the better
So, when a kid goes to school for business, they need to leave with a project management certification as well as the degree. Or, if they were a finance major - leave with a series 7.
If they go for cyber - same thing - leave with the certification that comports with the discipline they studied.
If you can leave with a medical degree - you can leave with a fucking security+, or Project Management certification.
If I know anything about churches and school cafeterias, it is that they are vastly segregated inclusive of racial demographics.
To your first comment; wholeheartedly agree! I graduated with degrees in Econ/business/management and THEN learned the process of project management, RFPs, procurement, contracts, etc. on the job after. Definitely didn’t have the chops at graduation for a PMP cert. and that would have been super helpful. Like, what was that school for? This was early 2010’s
A number of possibly related, but poorly supported speculations on my part are that people move to, and from places as their situations/needs change -this is a simple discussion within poor outcome discussions that I seem to only hear about as it relates to huge student turnovers in poorly performing schools. These turnovers are representative of a parent(s) that has likely changed residence.
Years ago, I looked at Census data for the 53206 zip code as supported claims were made that there is a large under-representation of males (17-36 years-old IIRC) on account of incarceration. I recall that demographic abcence from census data, but I also recall a well over 50% representation of much younger males -like women are having substantially more male children than female in a specific zip-code? Maybe parent(s) with daughters are less likely to move to, or more likely to move out of a specific zip-code for reasons worth considering? Maybe something else?
I am not comfortable with the speculations that some parent(s) might feel their male children can endure a crappier environment than their female children, that we have places in this country where people can move to give up, and that I may myself be guilty of thinking it possible that young men, or anybody can do anything other than face stupid challenges in a such places- or even if they exist.
To be clear, IIRC the absolute numbers for 53206 were not crazy-huge, like 50-70 more girls would have evened it up for the zip-code, but there seemed to be a there there, that was I was not seeing in other zip-codes in the area.
Again, I'd return to the top premise, where measured outcomes might not be staying in the same places for reasons worth considering.
@20:10 he’s incorrect. Young men are typically faced with more challenges when they’re young and they don’t get a pass or the benefit of the doubt. This is not due to emotional weakness.
I think things like red lining have a effect. After WW2 government made programs for white people to buy homes and property, blacks were explicitly not aloud to take advantage. Instead "the projects" were built and Patrice O'Neal said once and it really stuck me that went own part of a community you care about it. So I think this excluding of black people from ownership has had a deteriorating effect on families and finances. But why would these men stick around and work and never get ahead? They don't own anything and the just make someone else rich. So they turn to gangs to get that guidance and respect from peers. That is a type of tangible outcome they can see.
The outcomes are created by *credentialism* supported and underpinned *by* *classism* , not some universal and extreme increase in competency and ability by elite colleges.
Expanding seats and accessibility is the wrong way to look at this. The elite schools get more selective and expensive the more you try to make college accessible to the masses.
A tradesman with a degree and a tradesman without a degree at the same level of experience are worth about the same in terms of their core competences and ability.
*MOST* jobs are closer to this than the opposite. People want that to not be the case because it degrades the value of their financial investment in their 4+ year degree. They don't see that they are offloading the same inefficient educational rat race to the next generation and solving nothing.
Raj looks like Sundar Pichai
The military is the greatest social ladder, allow kids in high school to join but not fight in combat until 18. Not only do people learn to work in diverse environments but they also develop discipline.
Did you not listen to the podcast? The greatest social ladder is being born to wealthy parents, growing up in a wealthy neighborhood, going to an Ivy League College and making friends with the students of wealthy parents.
@@stevechance150 I listened to the podcast and it’s not upward mobility if your parents are already rich. The guy is suggesting weird social engineering on kids. I don’t need my kids to go through some DEI program to create artificial relationships.
And yet the most qualified and smartest people from around the world want to come here! American dream is bright and shining except for professors in our American universities.
At the end where Raj is recommending to think hard about who you're connecting with and whether they create opportunities for you. Isn't that directly contradicting his earlier statements about wanting to intermingle affluent and less affluent populations? This idea of 'your income is the average of your 5 closest friends' is feeding this segregation. I'd argue a persons character is just as important if not more, even if it's a more difficult conclusion to make based on data.
While I'm not sure I fully understand your point (my inclination is to disagree somewhat), I think one overlooked factor is that of attraction or beauty. Good looking people always have an easier time meeting and befriending people of any social status or income level.
@@AudiTTQuattro2003that's an absolute fact
30:13 So, when my teen goes off to college, they should make friends with the rich kids, got it. Also, if my kid doesn't make it into one of the Ivy League Colleges, their life is screwed and I'm a failure. Cool.
Children from wealthy families get into prestigious colleges more often then children from lower income households. Do you ever hear anyone ask why dad and mom are wealthy? Of course not, let’s just blame everything on wealth inequality. Or maybe, just maybe, mom and dad are wealthy because they are very intelligent, hard working, extremely conscientious and have a high level of stress tolerance. And their children take after their parents (it’s called GENETICS). As my father used to say, an apple does not fall far from the tree. That works both ways, good and bad. Oh hell, let’s just keep blaming everything on unfairness!! 😅
I’m gonna have to disagree on your notion about higher education being a “caste system.” By definition, a caste system exists when you cannot move between them. America still has a class system, even if it’s becoming more rigid
For the 750,000th time, “the American dream is dying” …. okay man. We hear this type of talk since 1800s’
universities dont need more seats... they need to replace liberal arts seats with stem seats
Not really. You're in a Capitalist system which means that your degree - Modernization whether STEM or Any other degree - may not guarantee you a lifetime's employment in that field. Just look at the film Margin Call, where all the quantitative analysts who analysed the securities that bought down the global economy were astrophysicists, who were unable to get a job in their discipline and had to schlepp in finance. And where are they now? Moreover, there's a law graduate, who is now an aeronautics mechanic via being a pilot... A degree may help, but not forever... If you are going to have to compete in the capitalist model, stability is not a given. Capitalism lives by destroying things, including careers. So, STEM is the current fashion, and if we believe the hype, AI is going to destroy the need for STEM, Law, Medicine, Accountancy, and plenty of white collar jobs. It might even destroy the need for Economists... Lol. The only need for STEM graduates is to bring about their destruction quicker... Better to look at the evidence in the present and looking forward. The tech firms this year laid off 650,000 people in the US. That's reality. It would be better to teach people to employ critical thinking, and to update their information constantly, as to enhance their ability to analyse and question more, so they can truly reason and act in their best interest throughout their lives. Turning out mere cogs for the machine isn't enough any more, when that machine may crush their living standards.
@BigHenFor it's not a capitalist system when government is involving itself. Government involvement is pushing kids that don't belong in universities in there. Prices increase and seats decrease. Seats slant towards liberal arts. We need less government involvement.
@@BigHenForYes, I get a kick out of these people who say "Universities should get rid of everything but STEM and Business Majors". God knows I don't want to live in that world. The girls in the Business School won't sleep with you until you show them your GPA and your student loan balance. The girls in STEM... you don't want to sleep with those girls. Go to the Mass Communication school, that's where the hot college co-eds are!
In high school. I knew three asian guys. 1. Chinese 2 Koreans. They all committed suicide , due to not being accepted to schools. Who’s fault was it parents? 😂
So if we put together the information about how people make friends outside societal class with the idea of paying a living wage, you get the opportunity for families to be able to afford band and athletics and dance and all of the other ways people could be interacting. Pay the dads and moms!