America has always taken pride in being the land of opportunity, a country in which hard work and sacrifice result in a better life for one’s children. Economic growth has made that dream a reality for generations of Americans, including many people who started out poor. The quarter century following World War II was a golden era for the U.S. economy, as high- and low-income families shared the benefits of substantial economic growth. But storm clouds began to gather in the 1970s. In particular, computer-driven technological changes favoring highly educated workers, plus demographic shifts such as the rise of single-parent families, have produced sharply growing income gaps among families.
