Should-Read: Raj Chetty et al.: Trends in US absolute income mobility since 1940: “Under the current distribution… we would need real GDP growth rates above 6% per year to return… http://voxeu.org/article/trends-us-absolute-income-mobility-1940 …to rates of absolute mobility in the 1940s…. Because a large fraction of GDP goes to a small fraction of high-income households today, higher … Continue reading Should-Read: Raj Chetty et al.: Trends in US absolute income mobility since 1940