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Progress over the last 400 years is being undone by regressions of the last 40 years.

> individuals born in 1980 have only a 45% chance of outearning their parents at age 30, compared to 93% for those born in 1940. https://www.weforum.org/agenda/2020/09/social-mobility-upwar...

Sounds like progress stopped, not that it reversed. When things are stable you'd expect that a bit less than 50% are richer than their parents.

I find it difficult to believe that progress stopped at some point in the later 70's

This is by design.

It hasn't though, the rate of gain for the wealthy has increased.