Saturday , February 27 2021

American Dream gets this country (and the weather is good too)



The United States has overcome Australia's unique opportunity, even though parents do not have a new report.

Generational economic mobility is lower than in the United States, a group of Australian mathematicians, finance and economics teachers offers a detailed analysis of generational income.

"Australia finds it more mobile than in the U.S., regardless of this approach," they wrote in the latest issue published in the economic magazine published by the Austrian Economic Society. Directed by Australia's Generation of Income Leads for Mobility, Professor of Mathematics at Chelsea Murray, and Professor of Economics at the University of Wollongong, Robert Graham Clark, under the direction of Professor Robert Graham Clark and Peter Siminski of the Australian National University. Sydney Technology University.

The report will make a disturbing or terrifying reading when Americans see themselves as a pioneer and entrepreneurial territory in the United States so that everyone can "commit suicide" for the "American Dream". (Some American Americans say they do nothing, such as owning a home, and some, just getting financial security.)

Instead, in the United States, shockingly, somewhere between 28% and 53% less financially mobile than Australia, according to the measures used. One thing is that this is not a suspicion: another is proof that another is apparently doing another country.

The researchers have compared the economic situation with their parents, according to home-based surveys: Australia, Housing, Income and Work Dynamics or the HILDA survey, from Melbourne University, from 2001 onwards and at the University of 2001. Survey of the Dynamic Survey of the Michigan Surveys, since 1968.

In order to make a number of "economic mobility", the relative income of parents and children was compared, by means of different measures, such as gross income, income and income, in relation to the rest of the population, which is likely to end by 20 percent income If you were, your parents would join the 20th. Measures ranging from 0 to 1. Zero's reading does not mean that there is a country that is not correlated with the results of the parent and the children: the children of the poor will be very rich. rich. Countries with a reading are basically feudal: you end up in the same situation as your parents, without exception.

Bottom line? In the broadest sense, the United States ranged from 0.31 to 0.38, which is roughly two-thirds of feudalism and an ideal opportunity. Australia is between 0.22 and 0.28. Researchers suggest two factors for U.S. to maintain mobility: increasing economic disparity and the importance of university degrees. The difference means moving more to move on to a significant scale. In the meantime, the degrees are so far from professional careers, those that do not attend college are perhaps the best ones to go forward.

This is not the first study to argue that the state of America could be exaggerated as the "land of opportunity". Many political analysts say that the frustration of a lack of opportunity has taken part in the triumphal victory of Donald Trumpen.

All economic and social studies, for example, will come with an annotation. They are subject to custom-made mistakes and assumptions and involve a certain degree of intelligence.

Obtain daily meetings of the top readings of personal finances delivered in the inbox. Subscribe to the Daily Newsletter of MarketWatch's Free Personal Finance. Sign up here


Source link