A Harvard economist says you have a better shot at achieving the “American Dream” in Canada or Sweden.
Raj Chetty made the comments on The Ezra Klein Show. “For kids who are entering the labor market today, it’s basically a 50/50 shot now as to whether they will do better than their parents.”
Chetty says upward mobility has a lot to do with one’s social capital – or whether they have the support structure around them for success. In other words – aspirations are often based on those around us. If we’re around successful people we are more likely to aspire to be successful ourselves.
The problem in the US – social capital varies widely among communities. There is stark contrast between poor inner city neighborhoods and affluent suburbs.
Do you find yourself struggling to attain the “American Dream?” What do you think is holding you back? How can you help someone?