A recent study conducted by MIT sheds light on the relationship between social networks, specific life events, and economic success. The study, which analyzed a substantial amount of Facebook data, suggests that individuals who have what are known as “long ties” – connections with people who do not share any mutual contacts – tend to experience greater economic success in their lives. The formation of these long ties is influenced, in part, by significant life events such as moving between states and switching schools.
The research offers insights into the structure of productive social networks and highlights the impact of certain life events on shaping individuals’ networks. For instance, the experience of relocating to different states or transferring between schools may contribute to the development of diverse and expansive social connections, which, in turn, can positively influence one’s economic outcomes later in life.
By utilizing a substantial dataset from Facebook, the study provides valuable empirical evidence regarding the association between social networks, key life events, and economic success. These findings contribute to a deeper understanding of how individuals’ networks are formed and shed light on factors that play a significant role in shaping these networks.
“People who have more long ties [on Facebook], and who have stronger long ties, have better economic indicators,” the researchers explain.
Bigger networks
The researchers found that people who had previously moved within the US tended to have 13% more long ties on Facebook than those who hadn’t. Similarly, they found that those who had also moved between high schools had 10% larger networks of long ties.
The study, while providing valuable insights, acknowledges certain limitations that must be considered. Firstly, due to its reliance on Facebook interactions, the research fails to incorporate offline activities that contribute to the maintenance of social networks.
Furthermore, it is plausible that economic success itself plays a role in shaping individuals’ social networks, indicating a potential bidirectional relationship. It is worth noting that some individuals may have access to opportunities for sustaining long ties, such as through professional engagements or travel, which others may not possess.
However, it is important to highlight that the study successfully uncovers the existence of long-term social network ties that had previously eluded evaluation. This discovery marks a significant contribution to the understanding of social network dynamics and their impact on individuals’ lives.
