A piece by Timothy Noah on income inequality and lack of opportunity - and why people overestimate opportunity
snip
When Americans expressindifference about the problem of unequal incomes, it’s usually because they see the United States as a land of boundless opportunity. Sure, you’ll hear it said, our country has pretty big income disparities compared with Western Europe. And sure, those disparities have been widening in recent decades. But stark economic inequality is the price we pay for living in a dynamic economy with avenues to advancement that the class-bound Old World can only dream about. We may have less equality of economic outcomes, but we have a lot more equality of economic opportunity.
The problem is, this isn’t true. Most of Western Europe today is both more equal in incomes and more economically mobile than the United States. And it isn’t just Western Europe. Countries as varied as Japan, New Zealand, Singapore, and Pakistan all have higher degrees of income mobility than we do. A nation that prides itself on its lack of class rigidity has, in short, become significantly more economically rigid than many other developed countries. How did our perception of ourselves end up so far out of sync with reality?
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(thanks for the link Bart)
tingilinde turns 10,000!
10,000 posts
yikes - tingilinde has been around since 2002. I've spent about $1,000 on it over the years along with a few hours. Thanks to all who have commented and suggested links and topics!
I'll have some ice cream in celebration - it is a lame excuse, but if you are looking for one ...
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