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What's in a name? Everything.

Benjamin Friedman reviews Greg Clark's book in the Atlantic Monthly

"No doubt economists and others will debate the relative merits of Clark’s method, along with what he’s trying to measure. But the important question is whether mobility is as slow as he says—and whether it really is a “universal constant.” Those claims are well worth taking seriously, in part because his more comprehensive notion of socioeconomic status—a concept economists typically don’t try to grapple with—does seem like what really matters."

Read the full review here.