The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first...

"The United States used to be a country where ordinary people could expect to improve their economic condition as they moved through life. For millions of us, this is no longer the case. Many Americans today have a lower standard of living as adults than they had in their parents' homes as...