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Whilst the US has more self-made billionaires than Europe [0] the US has lesser social mobility than Europe (less the UK), rendering the idea of 'the American d
by robbiep 9y ago
Whilst the US has more self-made billionaires than Europe [0] the US has lesser social mobility than Europe (less the UK), rendering the idea of 'the American dream' more a dream than a possibility [1, 2]
Healthcare is a price-inelastic good. Not having some form of pricing controls is a licence to rip the heart out of a population.
[0] https://howmuch.net/articles/billionaires-map https://howmuch.net/articles/billionaires-map
[1] https://www.theatlantic.com/business/archive/2016/07/social-mobility-america/491240/ https://www.theatlantic.com/business/archive/2016/07/social-...
[2] https://www.brookings.edu/wp-content/uploads/2016/07/02_economic_mobility_sawhill_ch3.pdf https://www.brookings.edu/wp-content/uploads/2016/07/02_econ...
- true_religion 9y agoThe article concludes the usa has lower social mobility simply because the very rich, are now much richer thus it is harder to move to that income group.