I've always disliked the American rhetoric (I'm sometimes tempted to use the word "propaganda") of being a self-made man, precisely because of this corollary.
I've always disliked the American rhetoric (I'm sometimes tempted to use the word "propaganda") of being a self-made man, precisely because of this corollary.
This is a pretty bad abuse of statistics (drawing a conclusion that isn't supported).
The reason why mobility looks lower is because you're measuring it in a relative way. Wealth distribution has a larger range in the US than Europe.
If the top quintile in the US is $200K and in Europe it is $150K, that means someone in the US, who moves from $40K to $190K doesn't have the same mobility as a European who moves from $40K to $160K, even though the absolute gain is higher for the American.
Added: Jesus Christ, I just noticed that stat is referring to the likelihood of reaching the top quintile by the time your 26. Really? 26? You're what? 8 years into a career?
The top quintile is probably closer to $80,000 or something. It's not that hard to get into if you have some talent and the right education. But what chance does a poor but talented kid in your country have to get that right education?
So someone in the lowest quintile in the US could jump to $90K/yr (only the 4th quintile), while the same person in the Netherlands could just to $80K/yr (top 5th quintile), but in fact the US person saw the greatest jump in personal income.
Just doing some searching for income quintile in the Netherlands (I was unsuccessful!), I found this interesting tidbit: "Income fell most in the bottom income quintile in most Member States"
The outcome was the same in the last recession. The poorest of the poor, in both the US and the EU, saw the largest drop in income.
[1]http://epp.eurostat.ec.europa.eu/statistics_explained/index....
For others nothing short of passing university with a first and jetting off to a glittering career is called success.
For this reason I never judge anyone anymore. The human condition means they are probably doing their absolute best to get by!