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They are definitely more mobile. One example(adjusted for inflation and family size): “Eighty-four percent of Americans have higher family incomes than their p
by kaczordon 6y ago
They are definitely more mobile. One example(adjusted for inflation and family size):
“Eighty-four percent of Americans have higher family incomes than their parents had at the same age, and across all levels of the income distribution, this generation is doing better than the one that came before it.”
[1] https://www.pewtrusts.org/~/media/legacy/uploadedfiles/pcs_assets/2012/pursuingamericandreampdf.pdf https://www.pewtrusts.org/~/media/legacy/uploadedfiles/pcs_a...
- AlexandrB 6y agoI think a flaw here is adjusting for overall inflation and not measuring something like "disposable income" from one generation to the next. Healthcare, housing, and education have all increased faster than inflation and are non-optional expenses[1]. [1] https://slatestarcodex.com/2017/02/09/considerations-on-cost-disease/ https://slatestarcodex.com/2017/02/09/considerations-on-cost...
- kaczordon 6y agoIn terms of percentage of income spent, the amount spent on food and clothing has gone way down, housing has stayed the same more or less. Education and healthcare both have very very heavy government involvement in the US so there’s your common factor.