READING John F. Kennedy’s application to Harvard College is a study in mediocrity. The former president graduated from high school with middling marks and penned just five sentences to explain why he belonged at Harvard. The only bit that expressed a clear thought was also the most telling: “To be a ‘Harvard man’ is an enviable distinction, and one that I sincerely hope I shall attain.” America’s premier universities, long the gatekeepers for the elite, have changed greatly since their days as glorified finishing schools for scions. But perhaps not as much as thought.
New data on American universities and their role in economic mobility—culled from 30m tax returns—published by Raj Chetty, an economist at Stanford University, and colleagues show that some colleges do a better job of boosting poor students up the income ladder than others. Previously, the best data available showed only average earnings by college. For the first time, the entire earnings distribution of a college’s graduates—and how that relates to parental income—is now known.
These data show that graduates of elite universities with...Continue reading
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