Earlier quoted context omitted.
Thanks-- that's useful: "More than 90 percent of the entrepreneurs came from middle-class or upper-lower-class backgrounds and were well-educated." I'm curious about the socio-economic background of the parents as well.
My understanding is that there is a very strong correlation between a person's educational and socio-economic attainment and those of their parents. The number that sticks in my head is that parental status accounts for 80%+.
If you are born to parents in the lowest quartile you have ~10% chance of making it into the highest by age 26. For people born in the highest the probability is ~30%.
(and if it was random it would, obviously, be 1/4 = 25%)
http://www.economist.com/news/united-states/21595437-america...