In the old days, you'd have a 70% chance of performing your parents economically. That's one measure of the American dream. You're born in the 1980s and that doesn't hold anymore. Do you think those results are reliable? Not whether they were careful with the data as careful as they could be.
Economist and Nobel Laureate James Heckman of the University of Chicago talks about inequality and economic mobility with EconTalk host Russ Roberts. Drawing on research on inequality in Denmark with Rasmus Landerso, Heckman argues that despite the efforts of the Danish welfare state to provide equal access to education, there is little difference in economic mobility between the United States and Denmark. The conversation includes a general discussion of economic mobility in the United States along with a critique of Chetty and others' work on the power of neighborhood to determine one's economic destiny.