The Center for American Progress brings you this study demonstrating that someone who grew up poor is far less likely to become rich later in life than someone who was born with money. In other news, the Center for American Progress is renaming itself the Center for the Insanely Obvious.
Everlast said it best: "You know, where it ends, well, it usually depends upon where you start."
So to all those out there who still think that we live in a classless society and that people are to blame for their own poverty, you may officially shut up.
Now, of course, there will be a decent amount of debate regarding what to do about our appalling lack of upward mobility. This isn't a victory for liberal economics so much as a definite statement of a problem that most people know about but like to ignore. What I'd be interested to know is how this statistic functioned historically - for example, if this was still the case during the era of '50s and '60s moderately liberal economic policy. Or in the 1890s era of ultra-conservative economics. Of course, there are other factors that could contribute to those historical differences, but it'd still shed more light on this problem and possibly point us to solutions.