from Washington’s Blog:
“Rags to Riches” Much Easier In Scandinavia than America
We noted in 2010 that the American Dream – the possibility of a “rags to riches” success story – has moved abroad … since social mobility in the U.S. is much lower than in many other developed nations.
(And we pointed out that conservatives are as disturbed as liberals by the collapse of social mobility in modern America.)
A paper published last year by University of Ottawa economics professor Miles Corak tells us exactly where the American Dream has gone … to Scandinavia. Here’s a chart from the study:
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