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The great lie underlying American mythology is the supposition that any hard-working page can become king.
True -- but then again a self-styled "community activist" who votes "present" with zero contributions to society can become President and win the Nobel Peace Prize for zero accomplishment.
Quote:
Originally Posted by ohio_peasant
While absolute progress, such as rising standard of living, is not zero-sum - relative progress is, also by definition. For somebody in a lower-quintile to become upwardly mobile, to join the highest quintile - well, somebody in that highest quintile has to become downwardly mobile.
Data show that great wealth has largely been dissipated after a couple generations.
No, not at CEA, though another former student of mine does currently serve in a senior position there. As you have meanwhile recalled incorrectly from all of about three weeks ago, I served as an economic advisor to the President for about 15 years between 1978 and 1993, this in contradiction of silly reactionary belief that I was not so much as born yet as of 1980.
It shows the education is crap over in UK judging by the way this article is written.
It is an example of knowing your target market. The article is written for elitist progressives in Manhattan. It is not a peer-reviewed academic article.
No, not at CEA, though another former student of mine does currently serve in a senior position there. As you have meanwhile recalled incorrectly from all of about three weeks ago, I served as an economic advisor to the President for about 15 years between 1978 and 1993, this in contradiction of silly reactionary belief that I was not so much as born yet as of 1980.
Yeah, yeah. No one believes you for a minute. You're wasting your breath.
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you are, of course, missing the point of absolute vs relative.
