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Follow-up: Social mobility in America

King Bananian, an econ professor at St. Cloud State, talks some more about the social mobility issue I posted on last week. King has a few interesting charts and a good analogy by Joseph Schumpeter, who is probably best known for the "creative destruction" meme. What I particularly like is his point that changes in technology can positively affect social mobility even in situations where the income gap between the richest and the poorest Americans is increasing.