By most measures, the US has among the lowest rates of social mobility of any rich country. And our income disparity is even more stark when considering not just pre-tax wages, but the more expansive “social wage” provided in other countries.
The Harvard economist Raj Chetty has shown the depth of the problem. By his measure, US absolute mobility – the chance a child will earn more than their parents – has fallen from 90% for children born in 1940 to 50% for children born in the 1980s.
www.theguardian.com
The Harvard economist Raj Chetty has shown the depth of the problem. By his measure, US absolute mobility – the chance a child will earn more than their parents – has fallen from 90% for children born in 1940 to 50% for children born in the 1980s.
The American dream is dead for many. Social democracy can bring it back | Bhaskar Sunkara
We can’t pretend things are going great in the US. But we also must reject the pessimism that says things must stay like this
www.theguardian.com
