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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: 0) by Anonymous Coward on Wednesday April 26 2017, @09:05PM
You assume that "own self-interest" would be to oppose inequality and get more benefits. I doubt even the typical liberal feels that way. Conservatives sure don't.
People feel better if they earn their keep. People hate freeloaders. People tolerate lots of inequality if they feel it is well-deserved. Being on welfare is depressing.
Traditional belief systems strongly endorse inequality: some get Heaven, while others get Hell. Nothing could be more unequal! The key is that the inequality is 100% deserved. We instinctively prefer things that way. Getting anything more or less than your share, according to merit, feels wrong.
Self-interest is much more than mere material goods. Self-interest includes feeling OK with yourself. That means being as self-supporting as possible. For most people, that means productive no-nonsense legitimate employment. Factory jobs are particularly appealing because they feel very legit: you made something is useful.
Liberal ideas like welfare will never satisfy the human urge to be a productive/independent member of society.