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Bye, bye, Miss American pie

December 9, 2016

americandreamEven taking into account that the leap from the Great Depression to the 1950s was a one-time event that cannot be repeated, I am stunned by the graph left showing how different generations do relative to their parents. Read the article. The graph is based on data, not available until recently, that allows statistical linkage across generations. Leonhardt argues that the trend of those curves is more about economic distribution than economic growth. I would love to see similar graphs for some European nations.

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2 Comments leave one →
  1. December 9, 2016 10:17 am

    What I found particularly striking when I read the article is that even the children of the wealthy are not doing as well as their parents. I suppose that will change for the very top of the income distribution when the estate tax is repealed.

    Overall it is a sad commentary on the state of the USA.

  2. rturpin permalink*
    December 9, 2016 12:29 pm

    That doesn’t surprise me. I expect some “return to the mean” at either end. It’s more the shape of the curves between the two ends that worries me.

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