Movin’ On Up: It’s Much Harder If You Live in the Wrong Town

Bankruptcy

http://www.dailyfinance.com/2013/07/23/social-mobility-geography/

The fact that it’s getting harder to move up the economic ladder shouldn’t come as a sur
prise anymore. For years, studies have shown that economic mobility in America has declined, both relative to other countries and to our nation’s own history. And it’s not like there’s any lack of culprits — research has cited a variety of reasons, ranging from the impact of single-parent households to the importance of good schools to the effect of America’s thin economic safety net. But recently, a study by economists at Harvard University and UC-Berkeley uncovered another major factor: geography.

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