"U.S. mobility is among the lowest of major industrialized economies."
So in other words, birth privilege is strongly correlated with future earnings in the USA, but less so in other industrialized countries. We still have more economic mobility than many countries, but we should say the "Nordic Dream" instead of "American Dream."
The scale of mobility is different, in the USA you can be much more wealthy. That's thrkwd direct comparisons like this off. If every is relatively poor then mobility is really high and uncorrelated with parent wealth.
While those rags-to-riches cases are true data points, they are not representative of the population sample. They are the exception despite the strong correlation, likely due to another contributing factor (sheer random luck, great financial earning abilities, etc.).
https://www.epi.org/publication/usa-lags-peer-countries-mobi...
"U.S. mobility is among the lowest of major industrialized economies."
So in other words, birth privilege is strongly correlated with future earnings in the USA, but less so in other industrialized countries. We still have more economic mobility than many countries, but we should say the "Nordic Dream" instead of "American Dream."