Is the American dream dead for young Americans?
Research published by the Equality of Opportunity project suggests that only 50 percent of children born in the 1980s are earning more than their parents. This is down from 90 percent of children born in the 1940s.
There are good arguments that the full picture may not be as bleak as it seems. What we can all agree on, however, is that too many poor children remain poor in adulthood. Nearly half of all parents in the bottom quintile of family income have children that have family income in the bottom quintile during adulthood.
What explains this lack of upward mobility for America’s poor? There are a number of possible explanations such as a lack of access to education or a side effect of growing up in a poor neighborhood.
Are there other possible explanations? I don’t think enough consideration has been given to the role of the growth of occupational licensing laws.
Continue reading at The Hill.
Edward Timmons, PhD, is Vice President of Policy at the Archbridge Institute. He leads the institute's economic policy strategy, identifying focus areas and disseminating work to key stakeholders and policymakers. His own research focuses on labor economics and regulatory policy; he is regularly asked to provide expert testimony to U.S. states on occupational licensing reform and the practice authority of nurse practitioners. Dr. Timmons received his Ph.D. in economics from Lehigh University and his B.A. in economics and actuarial science from Lebanon Valley College. He publishes a weekly newsletter on Substack with the latest research and policy insights surrounding occupational licensing.
Economics of Flourishing
Is the American dream dead for young Americans?
Research published by the Equality of Opportunity project suggests that only 50 percent of children born in the 1980s are earning more than their parents. This is down from 90 percent of children born in the 1940s.
There are good arguments that the full picture may not be as bleak as it seems. What we can all agree on, however, is that too many poor children remain poor in adulthood. Nearly half of all parents in the bottom quintile of family income have children that have family income in the bottom quintile during adulthood.
What explains this lack of upward mobility for America’s poor? There are a number of possible explanations such as a lack of access to education or a side effect of growing up in a poor neighborhood.
Are there other possible explanations? I don’t think enough consideration has been given to the role of the growth of occupational licensing laws.
Continue reading at The Hill.
Edward Timmons
Edward Timmons, PhD, is Vice President of Policy at the Archbridge Institute. He leads the institute's economic policy strategy, identifying focus areas and disseminating work to key stakeholders and policymakers. His own research focuses on labor economics and regulatory policy; he is regularly asked to provide expert testimony to U.S. states on occupational licensing reform and the practice authority of nurse practitioners. Dr. Timmons received his Ph.D. in economics from Lehigh University and his B.A. in economics and actuarial science from Lebanon Valley College. He publishes a weekly newsletter on Substack with the latest research and policy insights surrounding occupational licensing.
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