I believe in the American dream, but the data show that some people have an advantage in realizing it.
I was among a small group of economists invited to the White House in 2014 to discuss economic inequality with President Obama. As he entered the room, he greeted each of us. When he reached me, we shook hands—and, in a quiet recognition of shared culture, that handshake turned into a hug.
“Only in America,” I said, “can a guy who grew up like me meet the president.”
“Only in America,” he replied, “can someone like me become president and meet folks like you.”
That connection soon gave way to a spirited but good-natured disagreement on economic policy.
Economic mobility makes America special. I was raised by an alcoholic father, at times on government assistance. Life with him was chaotic and often violent. I didn’t meet my mother until my 20s, when my father was in prison. I’ve long believed that what sets America apart is the possibility of growing up in hardship and raising your children in comfort, all within a single generation.
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Roland G. Fryer, Jr., a John A. Paulson Fellow at the Manhattan Institute, is Professor of Economics at Harvard University, an entrepreneur, and co-founder of Equal Opportunity Ventures.
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