Oct 02 2012, 04:30 PM
"... "The U.S. worked hard to create the American dream of opportunity. But today, that dream is a myth,” Stiglitz wrote in an opinion piece in the Financial Times Tuesday.
Stiglitz said U.S. inequality is at the highest point in nearly a century and the gap between those with the median income and those at the top is growing.
“The U.S. used to think of itself as a middle-class country – but this is no longer true,” he said. “Today, a child’s life chances are more dependent on the income of his or her parents than in Europe, or any other of the advanced industrial countries for which there are data" ..."
http://www.cnbc.com/id/47957186/The_American_Dream_Is_Now_a_Myth_Joseph_Stiglitz
"... For example, three-quarters of Danes born in the lowest-earning 20% of the population escape their plight in adulthood. Seven out of ten poor children in supposedly class-ridden Britain achieve the same feat. But fewer than six in ten Americans do so... "
http://www.economist.com/node/21557300
Social mobility, which is basically what the 'American dream' is all about, has been declining in the US for years. At the time there's no plans to reverse that, it's not even a debate.
Stiglitz said U.S. inequality is at the highest point in nearly a century and the gap between those with the median income and those at the top is growing.
“The U.S. used to think of itself as a middle-class country – but this is no longer true,” he said. “Today, a child’s life chances are more dependent on the income of his or her parents than in Europe, or any other of the advanced industrial countries for which there are data" ..."
http://www.cnbc.com/id/47957186/The_American_Dream_Is_Now_a_Myth_Joseph_Stiglitz
"... For example, three-quarters of Danes born in the lowest-earning 20% of the population escape their plight in adulthood. Seven out of ten poor children in supposedly class-ridden Britain achieve the same feat. But fewer than six in ten Americans do so... "
http://www.economist.com/node/21557300
Social mobility, which is basically what the 'American dream' is all about, has been declining in the US for years. At the time there's no plans to reverse that, it's not even a debate.
![[-]](https://war-lords.net/forum/images/collapse.png)