> Economic mobility is very high in the US
Not so much. The U.S. is not even in the top 10 of countries for Economic mobility.
Not so much. The U.S. is not even in the top 10 of countries for Economic mobility.
Given two countries with the same median wage (PPP), a 20k increase in income in one country may be relatively "economically mobile" and a 40k increase in income in the other is not, even though the income increase is much larger in real terms. When average people talk about economic mobility, they mean the second case; using relative mobility is misleading.