Bloomberg: Gatsby Stays on Farm as Income Gap Limits Social Mobility
The ascent to dazzling affluence achieved by fictional farm boy Jay Gatsby is becoming increasingly less plausible, posing risks for U.S. economic prospects, studies show.
“It really flies in the face of what we believe to be true as a nation, that we have equality of opportunity,” said Diana Elliott, research officer for the Economic Mobility Project at non-profit Pew Charitable Trusts in Washington. “For this current generation of adults, if you’re raised in the bottom it’s much harder to climb up the economic ladder.”
Children from humble beginnings are less likely to make great gains in wealth and social status and 70 percent won’t ever reach the middle class, according to a Pew study.
Read the full article at bloomberg.com.
- Economic Mobility Project