This NY Times article focuses on a young man who is following in his father's footsteps as he attempts to become a NYC Real Estate mogul. This guy worked for Don Trump and now he is trying to get things done in Brooklyn. There is an academic research topic lurking here. Why do children often follow their parents into the same field? Some hypotheses;
1. human capital --- the parents have already taught the kids "the ropes"
2. nepotism and social capital; the parents have already created a social network with relationships with politicians and other interest groups and it is easy for the parents to introduce the kid into this pre-existing network.
3. liquidity constraints; the parents have the $ to help the kid get started in the real estate market.
4. Preferences --- parents and children have correlated interests so that it is natural for the kid to follow in the dad's footsteps. Here the kid may gain utility from impressing "the old man".
This guy worked for Don Trump and now he is trying to get things done in Brooklyn. idvy0827
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Posted by: Guild yan | 08/27/2012 at 12:56 AM
ok
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