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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.


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  • (Score: 3, Insightful) by kaszz on Wednesday April 26 2017, @05:50PM (2 children)

    by kaszz (4211) on Wednesday April 26 2017, @05:50PM (#500211) Journal

    In other words governments geographical range should be small so people can vote system with their feet.

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  • (Score: 1) by lcall on Wednesday April 26 2017, @06:09PM (1 child)

    by lcall (4611) on Wednesday April 26 2017, @06:09PM (#500237)

    For many things, yes, heartily agreed. I am glad the US is big enough to defend ourselves though. Like, if we hadn't have been able to access our combined resources (and ship goods around effectively e.g. via rail, air, & water), WW2 might have gone differently (ouch). And things like the bill of rights etc are great. :)

    • (Score: 2) by kaszz on Thursday April 27 2017, @12:11PM

      by kaszz (4211) on Thursday April 27 2017, @12:11PM (#500619) Journal

      If Germany didn't support the communists to overthrow their enemy in Russia then there might had been less of communism there but still a revolution. Big capital in US would then been less keen on supporting the Nazi movement to counter communism. And US wouldn't needed the A-bomb etc to counter Nazis. Then there would not be any A-secret to steal and so on. So there is one critical point where this event chain could been halted. And that is where the support of big capital helped the Nazis to secure power. IBM machines were actually used to keep track of people. The result of that can be read in the history books.