Monday, July 23, 2012

The 'Ivanhoe Gap'

People with "Norman" surnames like Darcy and Mandeville are still wealthier than the general population 1,000 years after their descendants conquered Britain, according to a study into social progress.

Research shows that the descendants of people who in 1858 had "rich" surnames such as Percy and Glanville, indicating they were descended from the French nobility, are still substantially wealthier in 2011 than those with traditionally "poor" or artisanal surnames. Artisans are defined as skilled manual workers.

Drawing on data culled from official records that go back as far as the Domesday Book as well as university admissions and probate archives, Gregory Clark, a professor of economics at the University of California [at Davis], has tracked what became of people whose surnames indicated their ancestors had come from either the aristocratic or artisanal classes.

By studying the probate records of those with “rich” and “poor” surnames every decade since the 1850s, he found that the extreme differences in accumulated wealth narrowed over time. But the value of the estates left by those belonging to the “rich” surname group, immortalised in the character of Fitzwilliam Darcy, in Jane Austen's Pride and Prejudice, were above the national average by at least 10 per cent.

In addition, today the holders of "rich" surnames live three years longer than average. Life expectancy is a strong indicator of socio-economic status.
Of course, the Queen and her family alone could account for part of the difference.  However, the Queen has suffered a recent reversal of fortune, and her salary has been cut to a mere $50 million per year, down from twice that.  Bummer, duddette.  You may need to cut off the kids.

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