Wednesday, February 06, 2008

The Poor Get Richer

Mark Perry (Carpe Diem) points to some research about economic mobility, and concludes
that more than 2 out 3 Americans born a generation ago have already surpassed their parents' income, and more than 4 of every 5 Americans born to parents in the bottom fifth during the late 1960s and early 1970s are better off than their parents.
I told you so:
"Why Class Warfare Is Bad for Everyone" (21 Sep 2004)
"Fighting Myths with Facts" (27 Sep 2004)
"Debunking More Myths of Income Inequality" (13 Oct 2004)
"Ten Commandments of Economics" (02 Dec 2005)
"More Commandments of Economics" (06 Dec 2005)
"Zero-Sum Thinking" (29 Dec 2005)
"On Income Inequality" (09 Mar 2006)
"The Causes of Economic Growth" (08 Apr 2006)
"The Last(?) Word about Income Inequality" (21 Jul 2006)
"Your Labor Day Reading" (04 Sep 2006)
"Status, Spite, Envy, and Income Redistribution" (04 Sep 2006)