The richest families in Florence in 1427 are still the richest today
Intergenerational mobility is concerned with the relationship between the socioeconomic status of parents and that of their children as adults. Societies characterised by a high transmission of socioeconomic status across generations are not only more likely to be perceived as ‘unfair’, they may also be less efficient as they waste the talents and skills of those coming from disadvantaged backgrounds.
Source: What’s your (sur)name? Intergenerational mobility over six centuries | VOX, CEPR’s Policy Portal