The conclusion of such studies is that socio-economic mobility is lower, and family intergenerational correlations of incomes are higher, in the U.S. than in other major democracies. For instance, 42% of American sons whose fathers belong to the poorest 20% of their generation end up in the poorest 20% of their own generation, whereas only 8% of sons of those poorest fathers achieve rags to riches by ending up in the richest 20%. Corresponding percentages for Scandinavian countries are about 26% (below Americans’ 42%) and 13% (above Americans’ 8%). Sadly, the problem is making itself worse:
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The American dream is a lie
