The American Dream Has Moved to Scandinavia
We noted in 2010 that the American Dream – the possibility of a “rags to riches” success story – has moved abroad … since social mobility in the U.S. is much lower than in many other developed nations. (And we pointed out that conservatives are as disturbed as liberals by the collapse of social mobility in modern America.) A paper published last year by University of Ottawa economics professor Miles Corak tells us exactly where the American Dream has gone … to Scandinavia. Denmark, Norway and Finland have the most social mobility (and Sweden is not that far behind). On the other hand, the UK, Italy and America have the least social mobility. [...] Norway is arguably the world’s most prosperous country. Denmark is 3rd; Sweden is 6th; and Finland is 8th … but the U.S. has dropped down to 10th place.