WSJ highlights a good study out of economic teams at Washington University and Cornell. https://www.wsj.com/articles/earnings-in-the-u-s-a-game-of-chutes-and-ladders-11560511801 The social scientist duo reviews the PSID data which provides an economic longitudinal view of thousands of nonimmigrant American families. https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0116370&mod=article_inline The PSID is one of the longest running economics studies on American households. Main conclusion published by WSJ this … Continue reading High Income Status Is Typically Short-lived