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Lumifer comments on Why are Harvard's alumni so wealthy? - Less Wrong Discussion
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Not made, but have. I would hazard a guess that much of that money is inherited and not "made" by the current generation. This, by the way, also has implications for wealth distribution by age (because the inherited wealth becomes yours only after your parents die).
The original source says that the Harvard rich are 74% self-made, 14% inherited, and 12% some mixture.
I would like to see how they define their labels and how do they arrive at their numbers before I would be willing to believe them.
Why so skeptical?
There are strong methodological problems with making such estimates. The easiest way to go about it -- send out questionnaires and tally up those returned -- does not produce good numbers. Besides, wealthx is a business. I am not sure what their incentives are but I am sure they have some.
Ah, gotcha, thanks!