Family, Education, and Sources of Wealth among the Richest Americans, 1982-2012
American Economic Review
vol. 103,
no. 3, May 2013
(pp. 158-62)
Abstract
We examine characteristics of the 400 wealthiest individuals in the United States over the past three decades as tabulated by Forbes Magazine, and analyze which theories of increasing inequality are most consistent with these data. The people of the Forbes 400 in recent years did not grow up as advantaged as in decades past. They are more likely to have started their businesses and to have grown up upper-middle class, not wealthy. Today's Forbes 400 were able to access education while young, and apply their skills to the most scalable industries: technology, finance, and mass retail. Most of the change occurred by 2001.Citation
Kaplan, Steven N., and Joshua D. Rauh. 2013. "Family, Education, and Sources of Wealth among the Richest Americans, 1982-2012." American Economic Review, 103 (3): 158-62. DOI: 10.1257/aer.103.3.158Additional Materials
JEL Classification
- D13 Household Production and Intrahousehold Allocation
- I20 Education and Research Institutions: General
- J12 Marriage; Marital Dissolution; Family Structure; Domestic Abuse
- J24 Human Capital; Skills; Occupational Choice; Labor Productivity