New research has come out from sociologists and economist at Standford and Harvard, revealing something that most people already have an intuitive sense of, and is still all the while depressing:
“The decline in economic mobility between parents and kids over the past half century is astounding. About 90 percent of Americans born in the 1940s earned more than their parents by the time they turned 30. Only about half of those born in the 1980s can say the same. All figures are adjusted for inflation, household size, and the number of people working in each household.”
The research indicates that, among those hit the hardest were men in the rust belt, something that might go to explain their strong support during the past election for now President-elect He-Who-Must-Not-Be-Named.
The kicker ultimately here: The driving force behind this phenomenon, the force that should be tackled and dealt with to reverse this trend, is growing inequality.
