There is a common misperception that Asian Americans are the “model minority”—able to succeed under any conditions. But recent economic data suggest that Asian Americans, like everyone else, cannot advance when the benefits of economic growth are concentrated among the wealthiest Americans as they have been for the last decade. The economic trends for Asian Americans and Pacific Islanders from 2000 to 2007 were quite similar to that of other racial and ethnic groups. Like white, Hispanic, and African Americans, Asians and Pacific Islanders saw no significant economic progress.