Economic mobility and the wealth gap over the last several decades

Economic mobility and the wealth gap over the last several decades

Your uncle says to you, “You kids are so lucky today. When I was a kid in the 1950s, I never went to restaurants. Look at your fancy phone! Life was hard back then. Not like today. You have it easy. Anyone can be rich today!” Explain (nicely) why this old man’s point of view is incorrect by explaining what has happened to economic mobility and the wealth gap over the last several decades. Also explain the effects globalization had on things like unions, wages, taxes, and safety nets in the United States. Finally, let your uncle know about the situation millenials (18-34 year olds) face!

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