Your birthplace determines your wealth


LIFE is a lottery, and the most important part isn't how smart you are or even who your parents are. It's where you were born.

That, at least, is what economist Branko Milanovic, writing in the May issue of The Review of Economics and Statistics, found when he broke down how much people in different countries make at different income percentiles. That lets us figure out, for example, that the bottom one per cent in Germany are better off than all but the top 40 per cent in China. And that...

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