The Case For Cash Transfers Gets A Boost

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Chetty and friends have a new paper about which children grow up to be inventors and why. They find that childhood income, exposure to inventors, and innate ability all play huge roles. These findings bolster the case for using cash transfers to smooth out inequality in society because such transfers boost childhood income and because such transfers counteract the unfairness associated with the fact that innate ability and exposure to inventors are based on luck and, in the latter case, is necessarily limited in quantity.