3 ms·
Progress over the last 400 years is being undone by regressions of the last 40 years. > individuals born in 1980 have only a 45% chance of outearning their par
by saint_abroad 6y ago
Progress over the last 400 years is being undone by regressions of the last 40 years.
> individuals born in 1980 have only a 45% chance of outearning their parents at age 30, compared to 93% for those born in 1940. https://www.weforum.org/agenda/2020/09/social-mobility-upwards-decline-usa-us-america-economics/ https://www.weforum.org/agenda/2020/09/social-mobility-upwar...
- username90 6y agoSounds like progress stopped, not that it reversed. When things are stable you'd expect that a bit less than 50% are richer than their parents.
- Jochim 6y agoIt hasn't though, the rate of gain for the wealthy has increased.
- mbroncano 6y agoI find it difficult to believe that progress stopped at some point in the later 70's
- fuzzfactor 6y agoThis is by design.