That’s the title of a short article of mine in the current Pathways magazine. Pathways ought to be on the reading list of anyone interested in living standards, poverty, inequality, and mobility. And it’s free.
A few other worthwhile recent reads on these topics:
CBO, Trends in the distribution of household income
Center on Budget and Policy Priorities, A guide to statistics on historical trends in income inequality
OECD, Divided we stand: why inequality keeps rising
Scott Winship, Mobility impaired
Miles Corak, The decline of the American dream
Reihan Salam, Understanding America’s income mobility problem
Mike Brewer and Liam Wren-Lewis, Why did Britain’s households get richer?
James Plunkett, The potential for female employment to raise living standards in low to middle income Britain
Lane Kenworthy 
Prof. Kenworthy, it will be appreciated to hear your take on the recent Alan Krueger-Scott Winship argument.