'There Is No American Dream'

Gregory Clark:

UC Davis Economics Professor: There Is No American Dream: A UC Davis economics professor has determined there is no American Dream. ...

“America has no higher rate of social mobility than medieval England, Or pre-industrial Sweden,” he said. “That’s the most difficult part of talking about social mobility is because it is shattering people s dreams.”

Clark crunched the numbers in the U.S. from the past 100 years. His data shows the so-called American Dream—where hard work leads to more opportunities—is an illusion in the United States, and that social mobility here is no different than in the rest of the world. ...