Bookmark this page |
Tag to del.icio.us
| Add to Technorati Favorites
|
Our discussion forum is open for business. Come say hello. |
Friday, April 28, 2006
Rags to Riches in America: Not so easy
America's Rags-to-Riches Dream an Illusion, Says Study:
More and more it feels like the good days are behind us, not ahead of us... unless you're rich already, that is.
The likelihood that a child born into a poor family will make it into the top five percent is just one percent, according to "Understanding Mobility in America," a study by economist Tom Hertz from American University... He also found the United States had one of the lowest levels of inter-generational mobility in the wealthy world, on a par with Britain but way behind most of Europe. "Consider a rich and poor family in the United States and a similar pair of families in Denmark, and ask how much of the difference in the parents' incomes would be transmitted, on average, to their grandchildren," Hertz said. "In the United States this would be 22 percent; in Denmark it would be two percent," he said... Several other experts invited to review his work endorsed the general findings, although they were reticent about accompanying policy recommendations.
More and more it feels like the good days are behind us, not ahead of us... unless you're rich already, that is.
Comments:
Post a Comment
Links to this post:
You are not on our Home Page.
Click here to return to ARGville's Home Page
Links to this post:
You are not on our Home Page.
Click here to return to ARGville's Home Page
