The idea of going to college—and the expectation that the next generation will be better educated and more prosperous than its predecessor—has been hardwired into the ambitions of the middle classes in the United States. more

The ranks of poor Americans remained at a record high number last year, even aftergovernment-aid programs such as food stamps, housing vouchers and heating subsidies were included, the U.S. Census Bureau said today. more

In Horatio Alger's famous story, “Ragged Dick”, a plucky boot shiner improves his lot through hard work, honesty and learning his “three Rs” (reading, ’riting and ’rithmetic). The marks of his success are a suit, an office job and a new name, “Richard Hunter, Esq”. more

Today's half-hearted demonstrations marking the birthday of the Occupy Wall Street movement served as a reminder that catchy slogans and funny hats do not add up to a political movement. more

A recent analysis by the Pew Charitable Trusts concluded that “Americans raised at the top and bottom of the income ladder are likely to remain there themselves as adults.” The study found that two-thirds of Americans end up in the exact same quintile of the income distribution as their parents, or below it. more