Abstract
On the basis of patterns of intergenerational mobility and class endogamy in Australia and New Zealand, we develop models of exchange between the generations. Data on intergenerational change in terms of social mobility (father-to-son mobility) and class endogamy (the social origins of spouses) reveal considerable stability in patterns of exchange in each country and across age cohorts.
The analysis shows that, while considerable social interchange occurs, it does so at different rates depending on social distance and class background. The barriers that inhibit exchange are grounded in institutions of structured inequality, and they operate selectively within the class structure.
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