5/25 "There is little available evidence that the United States has more
relative mobility than other advanced nations. If anything, the data
seem to suggest the opposite. Using the relationship between parents'
and children's incomes as an indicator of relative mobility, data show
that a number of countries, including Denmark, Norway, Finland, Canada,
Sweden, Germany, and France have more relative mobility than does the
United States."
http://www.economicmobility.org/assets/pdfs/EMP%20American%20Dream%20Report.pdf
\_ After unions and WWII, manufacturing jobs overpaid for low-skill work.
Now globalization is letting anyone else with the same set of skills
do those jobs, for relatively less in wages (though well paid in their home
country.) Getting an education and a job in industries that are America's
strengths is the path to prosperity. Cutting student loan subsidies was
a huge mistake. |