What, ho, the American Dream?

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If you want to read more, go here.

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4 responses to “What, ho, the American Dream?

  1. There’s a Whole Lotta Science! and related jibberjabber to be found in all this. Between FiveThirtyEight and The Equality of Opportunity Project working paper, it can become positively mind numbing.

    Let’s break it down. From the working paper’s executive summary of the research and conclusion [small PDF]:

    These findings show that higher growth rates alone [GDP] are insufficient to restore absolute mobility to the levels experienced in mid-century America. … The key point is that increasing absolute mobility substantially would require more broad-based economic growth.

    We conclude that absolute mobility has declined sharply in America over the past half century primarily because of the growth in [economic] inequality. If one wants to revive the “American Dream” of high rates of absolute mobility [the ideal that children have a higher standard of living than their parents
    ], one must have an interest in growth that is shared more broadly across the income distribution.

    So…how to achieve economic growth that is shared more broadly across the income distribution? Hint: start here.

  2. Looks like those one-percenters are really screwed. :)

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