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Lisa Kahn's theory challenges the existing paradigms in the field of economics by suggesting that the state of the economy at the time of a person's entry into the job market has a long-term impact on their earnings. Traditional economic theories often assume that individuals' earnings are primarily determined by their skills, education, and experience, and that market conditions at the time of job entry have only a temporary effect. However, Kahn's research indicates that people who start their careers in a weak economy earn less than those who start in a strong economy, not just in the early stages of their careers but for as long as twenty years afterward. This suggests that economic conditions at the time of job entry can have a lasting impact on individuals' career trajectories and earnings, which is a significant departure from traditional economic theories.
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Yale Economist Lisa Kahn discovered that people who enter the job market in weak economies earn less than those who started in strong economies—not just in the early stages of their careers but for as long as twenty years afterward. Unfortunately, there's not a lot we can do about this as individuals—policy changes like forgiving student loans for an age cohort that enters the job market during a recession could go a long way to alleviate the effects of this poor start.
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