Brad Doherty/AP Images An American child born in 1945 had over a 90% chance of outearning their parents when they became adults. But fast-forward four decades, and a person born in the 1985 had only a 50% chance of faring better than them. As Stanford economics professor Raj Chetty put it, "It's basically a coin flip as to whether you'll do better than your parents." Stanford researchers found in a 2016 study that the main driver of the plummeting economic prospects for Americans was the widening gap between the rich and everyone else. This chart shows that the American Dream is now farther out of reach for a substantial portion of the population. Visit Business Insider's homepage for more stories. An American child born in 1945 had a more than 90% chance of outearning their parents when they became adults.
One Chart Shows How Steep Of A Decline There's Been In The Percentage Of Children Outearning Their Parents Since The 1940s
jzeballos@businessinsider.com (Joseph Zeballos-Roig), Business Insider
Fri, 10/18/2019 - 1:11pm
Topics: brad doherty/ap images americans american dream visit business insider business insidernow watch shark tank robert herjavec elizabeth warren bernie sanders'we turkish trump turkeysee nancy pelosi medicare cbo an american stanford as stanford raj chetty stanford america american chart shows outearning their parents chance born faring child adults fast-forward basically person decades professor flip economics coin put
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