Inequality in the US: Interview with Economist Joseph Stiglitz – SPIEGEL ONLINE
I’ve been saying this for years. Not only do your privileged at birth influence your eventual success, even those coming from privileged families are no longer able to find work. The American dream has long been dead.
“Stiglitz: This belief is still powerful, but the American dream has become a myth. The life chances of a young US citizen are more dependent on the income and education of his parents than in any other advanced industrial country for which there is data. The belief in the American dream is reinforced by anecdotes, by dramatic examples of individuals who have made it from the bottom to the top — but what matters most are an individual’s life chances. The belief in the American dream is not supported by the data.”