The American Dream of upward mobility is disappearing for many, but not all. In the 1940s, about 90% of children grew up to earn more than their parents; today only about half earn more than their parents. Economist Raj Chetty and his colleagues recently released a study and remarkable web-based tool revealing that, when it comes to upward mobility, place matters. Chetty and his colleagues used data from tax and census records to track data for more than 20 million Americans back to the neighborhoods where they grew up. In high-density urban areas, using the on-line tool, researchers have found that only a few blocks can make all the difference to educational attainment and future earnings (see https://opportunityinsights.org/press/). Continue reading →