Why exactly has social mobility declined in the United States in the past thirty years, so that the probability has more than halved that a man born into the bottom 25 per cent of the income distribution will end his life in the top quartile?13 Once the United States was famed as a land of opportunity, where a family could leap from 'rags to riches' in a generation. But today, if you are born to parents in the bottom income quintile, you have just a 5 per cent chance of getting into the top quintile without a college degree.
Over the past three decades, social mobility in the United States has significantly declined, with the likelihood of someone born into the bottom income tier ascending to the top tier reduced by over half. This stark shift raises questions about the underlying causes of diminishing opportunities in a country once celebrated for its potential to transform lives through hard work and ambition.
Historically, the U.S. was recognized as a nation where...
