In 2014 researchers had some reassuring news about whether America was still the Land of Opportunity. As the New York Times characterized the findings, “The odds of moving up — or down — the income ladder in the United States have not changed appreciably in the last 20 years.” So a pleasant surprise — of course it could be better — on the issue of relative social mobility. Stable was the new up.
But what about absolute mobility? It’s a slightly different question. Do kids earn more than their parents? Here, according to new research from the same group, the findings are disheartening. From the Wall Street Journal:More