Sounds about right

From the weirdly-named BLARB (aka Blog of the Los Angeles Review of Books):

Class anxiety is rife [in China], since class mobility is surprisingly limited with many of the traditional routes to advancement, such as education, now shut down. Research by the University of Sydney’s David Goodman has found that around 84% of today’s elite are direct descendants of the elite from pre-1949. This suggests that six decades of Communism may not have a dramatic impact upon the elites, who have the advantage of decades of capital accumulation — including economic, cultural and social capital — which have apparently continued to benefit them under the party-state system.

A rather shocking statistic.

Or maybe not.

In the linked interview, Goodman refers to a separate study that estimates the rate of intergenerational transfer of wealth and status in most of the world is about 73%.

If the “myth of the middle class” – i.e. social mobility – is indeed a myth (and not only in China), what happens when people stop believing in it?

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