Thursday, November 29, 2007

Social Mobility in America

Once again the folks at Cafe Hayek miss the point:

Wilson Mixon, from Division of Labour, sent me this graph -- which Wilson got from the Wall Street Journal -- summarizing IRS data on economic mobility that Thomas Sowell mentions here.Mozscreenshot10

--The point they're making that is "economic mobility is real." The point that, everyone knows economic mobility is real, and that it is getting worse in America. They shouldn't be bragging about the levels of economic mobility in the U.S. when they are among the worst in the western world. Economists should be looking at ways to reverse the trend, not simply show that it exists.

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