American Dream is still alive
what is my take from this graph
Looks like Mobility is decreasing decade to decade. It is less and less likely that children start making more than their parents
I think this is normal because some decades ago no parents had high schooling and now parents do.
Thirdly these days in Europe kids study until they are 25 or 30 so they start making money much later in life.
I think for children to make more than their parents is a phenomenon liked to the Urbanization. Parents were still in the countryside and the kids study and settled in the big city.
I think if parents have a good career it takes time for their children to surpass them
Is there a scenario where children will do much better than their parents? yes if children are deeply in the New Thing and typically the new thing is the future and pays a lot.
To me the American Dream is alive and well but if children want to copycat their parents and do what their parents do they will have problems.If a kid want to be dentist as his father it will take time to surpass the father by the simple reason that his father has experience and probably works much faster and with more skills.
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