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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe American Dream is a myth, says Nobel-prize winner
It has become increasingly difficult for Americans to climb the economic ladder, says Joseph Stiglitz, a Nobel-prize winning economist.
The U.S. has one of the highest levels of income inequality among its peers and is among the worst in offering equal opportunities for advancement, said Stiglitz, who spoke Tuesday in New York City. Whether an American gets ahead is also more dependent on the income and education of their parents, he said.
"The American Dream is a myth," said Stiglitz.
A left-leaning authority on income inequality who teaches at Columbia University, Stiglitz is on a publicity tour for his new book, The Great Divide, which is a compilation of his articles on unequal societies for the New York Times, Vanity Fair and other publications.
His timing couldn't be better. Income inequality and economic mobility have already emerged as hot topics for the 2016 presidential election, with candidates on both sides of the aisle offering their prescriptions for solving the growing income gap. Stiglitz is one of several economists who has spoken with Democratic presidential hopeful Hillary Clinton on these issues.
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http://money.cnn.com/2015/04/22/news/economy/stiglitz-american-dream/index.html?iid=SF_E_River
yeoman6987
(14,449 posts)Although shows like Shark Tank give me hope that making an interesting product can help fulfill dreams of making it. I have never been creative or inventive though so I live vicariously through people who can.
stillwaiting
(3,795 posts)yeoman6987
(14,449 posts)Can make a eye glass holder out of a piece of metal and become a success. That is how America used to be. No more but shows like this may be changing back to the regular person making it. It's very important.
awoke_in_2003
(34,582 posts)for Navin R. Johnson
corkhead
(6,119 posts)there are amazing riches to be found in abandoned storage sheds!
yeoman6987
(14,449 posts)BlueCaliDem
(15,438 posts)In the United States of America, the only way to get ahead is not by what you know but by who you know. Sure, there are a few lucky breaks here and there, but generally, if you don't know anyone who can further your career or who favors you and is willing to further your career, the American Dream is just that...a dream.
KansDem
(28,498 posts)pampango
(24,692 posts)it is in the low-tax, weak-union US.
That story of European versus U.S. social mobility has now been turned on its head. European nations and Canada, with their social safety nets and investments in early childhood education, are experiencing greater social mobility. Canada now has three times the social mobility of the U.S. Budget cuts at all levels of government have dismantled postWorld War II public investments that had begun to create greater opportunities for economically and racially disadvantaged families. Higher education has taken one of the biggest hits. Meanwhile, the relative advantage of wealthy families, in terms of social capital and civic engagement, has accelerated over the past 30 years.
http://www.alternet.org/corporate-accountability-and-workplace/want-american-dream-get-rich-parents-or-move-canada
yeoman6987
(14,449 posts)Hardly anyone applied for other positions in the company anymore. Not sure why. Plus going out and applying for other jobs should be done to keep interview skills up. I go on a job interview every year. I have also been promoted 3 times in 4 years. Not because I am special but because I apply for various positions where my colleagues don't want to. That needs to change. I do not have loyalty to anyone anymore because companies don't have loyalty to the workers.
CTyankee
(63,912 posts)Stiglitz was on Morning Joe today and generally got a good reception. I was fearing that he would be viciously attacked by Joe Scarborough but for some reason Joe was pretty mellow with the guy.
Hiraeth
(4,805 posts)moondust
(20,017 posts)are wasting away in the offshore accounts of a relative handful of psychopaths. Thanks Raygun.
jwirr
(39,215 posts)about upward mobility. That of course is important but there was more to the American Dream than that. Sometimes it wasn't so much about getting a better job etc. Sometimes it is just about being able to support your family, buy a home, send your kids to school from where you are at in the economic level. It was about fulfilling your own hopes and dreams be they ever so humble.
I see this problem at that level today. The young in my family almost all fit into that position. They are struggling because of low wages and a higher cost of living. The ones who have made it are all highly educated and living in our area is cheaper than in some of the big cities. They stayed put and have been able to buy housing at reasonable prices and with the income of both parents they have been able to support their families. But they are never going to get rich.
From the sounds of it many young people today are not this lucky.