Throughout most of the 20th century, the economic performance of the United States was simply remarkable. Fueled by technological advances and an ever-more-educated workforce, productivity grew steadily and standards of living of each generation far exceeded those of the preceding one. Defying the old adage that there is a tradeoff between equality and efficiency, all this growth was achieved while the gap between rich and poor was declining. Furthermore, America's education system delivered on the promise of equal opportunity by making a good education, the best gateway to well-paying jobs, accessible to most irrespective of their background and circumstances. By the 1970s, the United States was not only the richest country in the world, it also boasted the most educated population while inequality was no higher than in most other rich countries.
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