Realism over parsimony: Why non-monetary indicators approach intergenerational mobility better than monetary ones

Intergenerational mobility has been studied from two broad perspectives, namely, monetary and non-monetary. The dominant framework by far has been the former. However, it is not evident that monetary approaches are superior to non-monetary ones. In fact, in several respects, the latter shows clear a...

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Bibliographic Details
Published in:Desarrollo y sociedad 2018-08 (81), p.145-170
Main Author: Garcés Velástegui, Pablo
Format: Article
Language:English
Subjects:
Debates
ECONOMICS
Families & family life
Inequality
Intergenerational mobility
Parents & parenting
Realism
Scrutiny
Society
Socioeconomic factors
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Summary:Intergenerational mobility has been studied from two broad perspectives, namely, monetary and non-monetary. The dominant framework by far has been the former. However, it is not evident that monetary approaches are superior to non-monetary ones. In fact, in several respects, the latter shows clear advantages over the former. Hence, this article exposes the virtues and shortcomings that they have on each of the main stages relevant to the conduct of inquiry: conceptualization, data collection, and data analysis. This scrutiny suggests that monetary methodologies privilege parsimony over realism, while non-monetary methodologies do the opposite. In this context, it is argued that moving from elegance (parsimony) to realism is required in order to account for the actual complexity of socio-economic intergenerational mobility.
ISSN:0120-3584
1900-7760
DOI:10.13043/DYS.81.4