Wednesday, May 18, 2005

"I Told You So . . . "

Last Friday, Ed Cone wrote a post about an article in the Wall Street Journal on income distribution. I sent a reply which mused "I'm wondering whether we will see the WSJ Editorial Page weigh in on this subject next week."

Well, see this:

For the Record
Despite what you may read in the papers, the American Dream is alive and well.
BY ALAN REYNOLDS
Wednesday, May 18, 2005 12:01 a.m. EDT

"Major newspapers are in the throes of Mobility Mania: who "makes it" in America, and why; who doesn't, and why not. The Wall Street Journal began a series last week titled "Challenges to the American Dream." The New York Times followed suit with a multiparter on "Class in America," which aims to disparage the notion that the U.S. is a land of opportunity by claiming that "new research on mobility, the movement of families up and down the economic ladder, shows there is far less of it than economists once thought and less than most people believe."

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