Remember when the US used to be that land? There is something seriously wrong in America if opportunity and mobility is better found elsewhere. It's also interesting to see that Old Europe offers more mobility, even with the social services being offered that don't exist in the US. CEOs in Europe tend to make considerably less than US CEOs (Big Oil CEOs in the US make around eight times the annual compensation of their European counterparts) and it's pretty obvious that European companies are holding their own in business.
While income is not the only measure of economic mobility, the findings challenge the historical presumption that each successive generation will be wealthier, said Morton.Is the US really better off with this gross discrepancy?
“Today’s data suggest that during a 30-year period of economic expansion, a rising tide did not lift all boats,” Morton said in a release accompanying the report, “Economic Mobility: Is the American Dream Alive and Well?”
Of course, the men who run American companies don’t have too much to complain about. CEO pay increased to 262 times the average worker’s pay in 2005 from 35 times in 1978, according to the report’s analysis of Congressional Budget Office statistics.
