Analysts at BBH explain that Americans do not like to talk about class as m any like to think that there are no classes in the US and that sufficient hard work and one’s socio-economic status can be raised.
“These days, discussions of the disparity of wealth and income are acceptable ways to talk about class.” “There are various studies that suggest such mobility is becoming more difficult. A college degree no longer guarantees a secure middle-class living and lifestyle. Moreover, household income is a strong indicator of a range of life opportunities. In addition to consumption […]
Work hard and you’ll achieve success and have a higher income than your parents. That’s the American dream. Yet thousands of struggling Americans are realizing that determination isn’t always enough, and it’s difficult to get ahead when you’re always behind. Here are five important things to know about economic mobility challenges holding people back. 1. Income inequality is real
You’re not imagining it. Income inequality is widening. While underlying causes are hotly debated, the reality is that income has shifted upward . At the same time, people living in low-income communities and middle neighborhoods can have fewer paths to […]
Robert Archibald, chancellor professor of economics at William & Mary, presented at the Conference on Higher Education and Social Mobility, held in the W&M School of Education April 21-22. Photo by Skip Rowland ’83 In the age of smartphones, air travel and ride sharing, Americans are more mobile than ever — except, perhaps, in the one way that matters most.
According to Robert Archibald, William & Mary chancellor professor of economics , and David Feldman, professor of economics at W&M, when it comes to measures of social mobility — a concept referring to the generational movement in social status and […]
The authors of the new study found a sharp decline in absolute mobility and that reversing the trend means "more equal economic redistribution." (Photo: Jeremy Brooks/flickr/cc) Whither the American Dream?
It may not be totally dead, but a new study suggests that it is certainly on life support.
Published in the American Association for the Advancement of Science journal Science , the team of researchers led by Raj Chetty and David Grusky of Stanford University used data from federal income tax returns and U.S. Census and Current Population Surveys to look at trends of this "absolute mobility," or earning more than […]
Millennials will be the first generation of Americans since the 1940s to have less than a 50 percent chance of out-earning their parents. According to a new study based on decades of U.S. census and tax data, there has been a precipitous decline in generational earning ability since the Boomers were born with a 90 percent shot of climbing the economic ladder. This data, culled and parsed by Harvard and Stanford University researchers, suggests not only that the American reality has left behind the American Dream , but that the idea of generational progress may become damaging.
The story of […]
Flickr/Brent and Amanda I Homeownership is a goal shared among all people, regardless of race or ethnicity, and remains the main driver of wealth creation for the majority of households in the United States. That is why it is vital to understand the underlying characteristics that influence the probability of homeownership. Over the last several months, my research has explored the influence of marital status and family formation , education , income and economic factors on homeownership rates. Today, I examine how ethnicity impacts the probability of homeownership.
Not surprisingly, ethnicity and homeownership rates is a frequent topic of research […]
New York’s richest have gotten richer since 2006 as its poor have gotten poorer, according to a study published Wednesday by the city’s Independent Budget Office.
Drawing from annual samples of 770,700 income tax returns, the agency analyzed New York City residents’ earnings for each year from 2006 to 2014, extrapolating to the total tax-paying population of 4 million, and adjusting for inflation so that each year’s figures are directly comparable.
"We all know that the city is very unequal," said Debipriya Chatterjee, the IBO economist who analyzed the figures. "What I did not anticipate seeing in the data is that […]
In 2017, there can be no doubt that North Carolina is one of the most hostile states in America to labor unions. In a time in which corporate greed already reigns supreme and corporate-sponsored politicians have been waging an unrelenting and frequently successful war on working people and their families, generally, the union movement in North Carolina is a small and beleaguered cause. Though it is often enormously creative, plucky, and determined and doing great things for all working people in the state (not just the tiny fragment of the workforce it represents officially), the North Carolina union movement […]
The conclusion of spring semester is, for many, a joyous moment. For others it signals an impending deadline to find a summer internship. Even with this deadline mere weeks away, for many Brown students, summer internship prospects remain uncertain. The emphasis that recruiters place upon experience gained through internships means that the hunt for such opportunities begins as early as freshman year. After all, students who begin looking for jobs as seniors will have a tougher time than students who have significant experience under their belts by the time they graduate. But, as it turns out, there are substantial […]
Helping hand: Irish workers eat their lunch on a girder in New York in 1932. Catholic immigrants — such as those from Italy and Ireland — relied upon government spending to help them get a start in the United States
Recently, the results of the American National Election Survey were released, showing troubling findings: Convictions about the perceived failures of particular racial groups were a more certain predictor of votes than income inequality or authoritarianism. Specifically, the ANES found that President Trump’s voters tended to agree more than past Republican voters with the notion that “Italians, Irish” and […]