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Unlike in those living south of the border, Canadians really are living the American dream

The Globe & Mail writes on the state of economic mobility in Canada. Unlike our neighbour to the south, Canada is among the world leaders in economic mobility, on par with Denmark, Norway and other Scandinavian countries. The article points to new research by University of Ottawa professor Miles Corak, which suggests that while the United States remains significantly richer overall, "Canadians are up to three times more economically mobile than Americans." 
 
"A recent front-page story in The New York Times highlighted new research that 'turns conventional wisdom on its head'—namely, that Americans enjoy less economic mobility than their peers in, gasp, Canada."
 
"Yes, the US is richer, but it's also significantly more unequal, and a lot less mobile. Inequality is inherited, much like hair and eye colour."
 
"The conclusion is based partly on the work of University of Ottawa professor Miles Corak, a social policy economist and former director of family and labour research at Statistics Canada."
 
"Prof. Corak has quantified the opportunity divide between the two countries and his conclusions are startling. Canadians are up to three times more economically mobile than Americans, and it's almost entirely due to the conditions faced by those living at the very top and bottom of society, according to a new study he co-authored: Economic Mobility, Family Background, and the Well-Being of Children in the United States and Canada."
 
"'What distinguishes the two countries is what's happening at the tails,' Prof. Corak explained in an interview. 'Rich kids grow up to be rich adults and poor kids stay poor. In Canada, that's not so much the case.'"
 
"The American dream that anyone can rise from humble beginnings to vast wealth has become a myth. And as the gap between rich and poor widens, the middle class is shrinking."
 
"For now, at least, the dream of upward mobility in Canada is still alive. Canadians can thank a legacy of sound public policy and a more progressive tax system."
 
"Even the poorest of Canadian children have access to good schools, quality health care and decent homes (Attawapiskat notwithstanding)."

read full story here
original source Globe & Mail 

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