If you can get ahold of a copy of yesterday's WSJ, there's a nice op-ed on page A14 by Alan Reynolds titled, "For the Record: The American Dream is Alive and Well" that addresses the recent series appearing in the WSJ and NYTimes regarding income inequality in the US and the fading of the American Dream for younger generations... basically calling it all bunk. The online version is here if you have an online subscription to the WSJ.
Reynolds says that loads of empirical evidence and studies from all sides explain quite clearly why some earn more than others: they work harder, have more experience, more schooling, etc. He emphasizes that there is no evidence that it has become harder to get ahead through hard work at school and on the job. Claims that income levels are better explained by chance of birth rather than personal effort requires both a denial of widespread progress and an exaggeration of income differences through easily discredited statistical ploys.
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