A Broken Social Elevator?

Has the social elevator broken down?

While income inequalities have been growing for several decades, social mobility has stalled.

As Statista's Anna Fleck details below, those at the bottom of the ladder are finding it increasingly difficult to climb the ladder, while the very rich are generally able to increase their wealth.

a broken social elevator

An OECD study looked at the average number of generations needed for people born into the poorest families (among the poorest 10 percent) to reach the average income level in their country.

With six generations required, France is one of the OECD's poor performers - the average for the 30 countries analyzed being 4.5 generations. 

Germany also fails to stand out for its social mobility, while upward mobility is on average a little faster in the United Kingdom, Italy and Switzerland (5 generations), as well as in Spain and Belgium (four generations).

Among the OECD countries studied, the prize for social mobility goes to Denmark, where two generations on average are enough for an individual from a modest background to reach the average income level.

Conversely, the highest inertia is measured in Colombia (11 generations to reach the average income), a country that offers comparatively few prospects for upward social mobility.

a broken social elevator

You will find more infographics at Statista

Authored by Tyler Durden via ZeroHedge July 15th 2023