Greg Beato on the Myth of Economic Immobility


401K2013 CC BY

In early December, President Barack Obama delivered a major speech at a packed $27 million arts-and-culture complex in one of the poorest neighborhoods in the nation's capital. His subject? The American Dream, whose future, to hear the president tell it, was even more uncertain than that of Popcorn and Caramel, the two Thanksgiving turkeys he'd pardoned six days earlier. Obama has been decrying America's diminishing economic mobility, but Greg Beato highlights a range of research that paints a very different picture: We're in a mobility renaissance.