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Americans’ Odds of Earning More Than Parents Have Plunged

The likelihood that young adults will earn more than their parents has plummeted in recent decades, a study has found, fueling concerns that the American dream of steady upward mobility is foundering amid a widening wealth gap. Just half of Americans born in 1984 earned more at age 30 than their parents did at that age, down from 92 percent in 1940, according to research released Thursday by Stanford economist Raj Chetty and five colleagues. The study found two reasons for the drop:...

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