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Equality Of Opportunity Project

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  • Dec 31st, 2016 12:31 pm
[OP]
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Sep 23, 2009
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Equality Of Opportunity Project

I thought about whether or not to post this on a holiday, but I think it may do more good than bad.

Why?

Because everyone is spending time with their friends and family and they may feel like they somehow are alone with their perceived failure.

On to the thread.

I came across this site: http://www.equality-of-opportunity.org/

"Children's prospects of achieving the "American Dream" of earning more than their parents have fallen from 90% to 50% over the past half century."

I suggest the first link on this page for further reading: http://www.equality-of-opportunity.org/papers/

It's a National Bureau of Economic Research Working Paper and gives some detailed research.

Key point to remember, the research is talking about wages/salaries at the same relative point in an individual's career. Of course some new graduate is going to be making less than their parent currently is.

The data is analyzing 30 year-old incomes, that is comparing say 1980s kids at age 30 vs. say 1940s kids at age 30
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[OP]
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Sep 23, 2009
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More articles on the decline of prosperity:

http://www.wsj.com/articles/percentage- ... 1482316203

Paywalled.

Just search "Percentage of Young Americans Living With Parents Rises to 75-Year High" in Google and click the first link (which is the same as what I posted, just going to it in a different way let's you read it).

http://time.com/money/4608925/living-pa ... llennials/
Deal Expert
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Oct 26, 2003
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op, we all know this, you don't need people to tell you
WTB amazon gc @90%
Deal Addict
Oct 16, 2013
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New Brunswick
divx wrote: op, we all know this, you don't need people to tell you
Think that he is point it out to those that don't believe this.
[OP]
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Sep 23, 2009
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divx wrote: op, we all know this, you don't need people to tell you
I disagree.

I think many people blame themselves when it is not just them.

During the holiday season, people spend time with their family and I bet a number of people are reminded of their failures.

I am just saying that it is not worth being depressed about.

"Success" of being able to achieve a better lifestyle than your parents did at your age is becoming less common.

More people are staying at home into their late 20's (and older) mainly because they don't have stability or a decent salary.

It's easy to think that you are the one that screwed up ...

Reports like this should at least tell people that they are not alone in failing.
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Oct 26, 2003
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renoldman wrote: I disagree.

I think many people blame themselves when it is not just them.

During the holiday season, people spend time with their family and I bet a number of people are reminded of their failures.

I am just saying that it is not worth being depressed about.

"Success" of being able to achieve a better lifestyle than your parents did at your age is becoming less common.

More people are staying at home into their late 20's (and older) mainly because they don't have stability or a decent salary.

It's easy to think that you are the one that screwed up ...

Reports like this should at least tell people that they are not alone in failing.
recent years has changed a lot more than pre 1985, do you have more recent data? I wanna see how low it dropped to
WTB amazon gc @90%
[OP]
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Sep 23, 2009
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divx wrote: recent years has changed a lot more than pre 1985, do you have more recent data? I wanna see how low it dropped to
You don't understand.

The data is comparing people at age 30.

Someone born in 1985 turned 30 in 2015.

That is to say the data is from 2015.

Articles that talk about some 20-year old making less than their 55-year old parent do not understand the study.

The study is comparing people aged 30 vs. their parents at age 30 - roughly.

From the click more ribbon:
This figure plots the fraction of children earning more than their parents ("absolute mobility") by the year in which the child was born. Children’s and parents’ pre-tax incomes are measured at approximately age 30 at the household level, adjusting for inflation using the Consumer Price Index.
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Oct 26, 2003
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renoldman wrote: You don't understand.

The data is comparing people at age 30.

Someone born in 1985 turned 30 in 2015.

That is to say the data is from 2015.

Articles that talk about some 20-year old making less than their 55-year old parent do not understand the study.

The study is comparing people aged 30 vs. their parents at age 30 - roughly.

From the click more ribbon:
ok that makes sense now, i confess i didn't read the article
WTB amazon gc @90%

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