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.
(Score: 3, Insightful) by AthanasiusKircher on Wednesday April 26 2017, @01:41PM (2 children)
The two are (surprisingly) not mutually exclusive. Americans are continuously concerned about economic issues (well, it comes and goes in waves a few times each generation), but the pervasive belief in American exceptionalism is pretty much unquestioned for many folks. Thus, while expressing belief that politicians, big business, and even the entire government, etc. are failing most people, they will fight anyone who dares to say America is no longer "the greatest country in the world." It's a very odd pairing of beliefs, but the American jingoism isn't about logic.
(Score: 2) by kaszz on Wednesday April 26 2017, @03:27PM (1 child)
The constitutional freedom to speech is quite different from many other countries. Something that various other countries like Canada [wikipedia.org], Germany [wikipedia.org] etc indirectly undermines. In Britain various companies and (rich) people (ab)uses slander laws to silence criticism.
Free enterprise is perhaps also something unique and the right to bear arms. One has however to keep in mind that were important in 1788 may not be so in 2017 ..!
(Score: 0) by Anonymous Coward on Wednesday April 26 2017, @07:27PM
Free enterprise is perhaps also something unique
You're gonna have to explain that one.
Specific examples of places to the contrary of which you are aware would be useful.
-- OriginalOwner_ [soylentnews.org]