The fading American dream: Trends in absolute income mobility since 1940
Published: | 6:20 pm | Posted in: Wealth
One of the defining features of the “American dream” is the aspiration that children have a higher standard of living than their parents. When children are asked to assess their economic progress, they frequently compare their own standard of living to that of their parents. Such measures of “absolute income mobility”—the fraction of children earning […]