Stories
Slash Boxes
Comments

SoylentNews is people

posted by Fnord666 on Wednesday April 26 2017, @04:19AM   Printer-friendly
from the need-a-ladder dept.

In a sign of the fading American Dream, 92 percent of children born in 1940 earned more than their parents, but only half of those born in 1984 can say the same, researchers said Monday. Greater inequality in the distribution of growth is largely to blame, said the findings in the US journal Science. "Children's prospects of earning more than their parents have faded over the past half century in the United States," said the study, led by Raj Chetty of Stanford University. "Absolute income mobility has fallen across the entire income distribution, with the largest declines for families in the middle class."

Since little data exists linking children to their parents in terms of economic performance, researchers combined US census data with tax records, adjusting for inflation and other confounding variables. They found the sharpest declines in income in the industrial Midwest, including states like Indiana and Illinois. "The smallest declines occurred in states such as Massachusetts, New York and Montana," said the study.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: -1, Troll) by Anonymous Coward on Wednesday April 26 2017, @04:48AM

    by Anonymous Coward on Wednesday April 26 2017, @04:48AM (#499829)

    Chicago would be the next Detroit if not for the financial sector keeping the city from crumbling down and falling into Lake Michigan. Outside of downtown where the quants work and gentrified condo neighborhoods where the quants live, Chicago is all vacant lots, abandoned storefronts, failing businesses, homeless on every street corner, and dejected unemployed losers wandering the streets at all hours.

    Starting Score:    0  points
    Moderation   -1  
       Troll=1, Total=1
    Extra 'Troll' Modifier   0  

    Total Score:   -1