How does mobility affect individual/family wealth? via /r/economy


How does mobility affect individual/family wealth?

It's the end of a semester and I am just now finishing up my final essay in one of my Econ classes.

There is one question I had regarding physical mobility and wealth. It seems the term "mobility" in the academic literature has a specific meaning not entirely relevant to my question though.

What I'm asking is what the potential impact would be for someone not tied down to and particular area to relocate and find a job in a new area. A new location which would either offer substantially higher wages, or a geographic area with a substantially lower cost of living. Moving could be risky and bring with it a lot of uncertainty, but there might also be potential for a payout at the end as well.

People are tied down for various reasons, often we don't want to move to a new city for social or other reasons. But I think this might be the single best way to increase your standard of living.

What does everyone think about this question? Are there studies that look at this kind of thing?

Submitted April 20, 2017 at 10:37PM by HR_Corbet
via reddit https://www.reddit.com/r/economy/comments/66mj3c/how_does_mobility_affect_individualfamily_wealth/?utm_source=ifttt

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