Listen Now: Want To Achieve The American Dream? Move Abroad.
Looking for the American Dream? You might want to leave America.
The American Dream: the idea that anyone can make it to the top no matter where they started. But according to The World Bank that dream might be more realistic in other high-income countries.
The World Bank looked at this is by measuring how the economic and educational opportunities of children relate to that of their parents. The question is, how likely is it that someone born into a family with a modest background can grow up to have the same opportunities as those with rich parents.
Turns out the U.S. doesn’t do well on this scale. Only twelve percent of children born in the 1980s to parents on the lower end of the scale ended up on top. Eighty-eight of the one hundred thirty five other countries had a better rate.
Examples include Ireland, Italy and Croatia. Taking the top spot is Cyprus, a small mediterranean island. In Cyprus, almost twenty three percent of children with parents in the bottom half of society end up on top.
Get your passport ready.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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