The Equality of Opportunity Project
‘The American Dream’ means different things to different people. Professor Raj Chetty, who heads up Stanford University’s Equality of Opportunity Project, distills it into a simple statistic: The probability that a child born to parents in the bottom-fifth of the income distribution will make the leap to the top fifth — the classic notion of ‘rags-to-riches’.
Today, according to Prof. Chetty, a child is more likely to attain the American Dream if she lives in Canada or Sweden. Based on the most
