Comment by jandrewrogers
4 days ago
In the US your odds of going from impoverished to wealthy are extraordinarily good. I personally know dozens of examples, even excluding tech entirely. Social mobility is a term of art in economics and only weakly correlated with the ease of becoming wealthy. It doesn’t mean economic mobility.
Social mobility is a measure of relative rank change. In countries with compressed wage ranges, such as those you mention, “social mobility” is an artifact of the mathematics, it doesn’t mean you are meaningfully wealthier than the average person. You can double your household income in the US to above average and still not be “socially mobile”. Social mobility is not a meaningful measure for continent-sized economically diverse countries.
A person can go from the trailer park to being upper middle class in a place like Mississippi and it doesn’t count as socially mobile because you are being ranked against the household income of someone in Seattle, 3,000 km away. As far as the person in Mississippi is concerned, they are living the dream.
The opportunity to improve your standard of living in e.g. Europe pales in comparison to the opportunity to do so in the US. It won’t be classified as “socially mobile” in the US as an artifact of how the math works, but no one in the US cares.
If US had many people "going from impoverished to wealthy", its social mobility stats would be better. You are seeing few outliers, that is it.
You are demonstrating that you have no idea what “social mobility” means. It is a term of art in economics, it doesn’t mean what you think it means. Being “socially mobile” has nothing to do with your ability to change your standard of living.
In countries like the US, you can achieve enormous gains in income and still not be socially mobile by definition. Specifically, it has nothing to do with how easy it is to become wealthy, which is what most people incorrectly intuit it means.
High “social mobility” is worthless if it doesn’t come with a high standard of living.
> In countries like the US, you can achieve enormous gains in income and still not be socially mobile by definition.
No, mass of people cant. The thing you describe can happen and not affect the global stats only because it happens to few people in one relatively small location.