Prague, Czech Republic – The Czech Republic ranks among the best countries in the world where the ‘American Dream’ is more attainable than in the U.S.
According to a World Bank report, entitled “Fair Progress? Economic mobility across generations around the world”, dozens of countries around the world offer better chances to its citizens to attain the ‘American Dream’, understood as “the idea that anyone can make it to the top, no matter where you come from”.
“That dream is more realistic in most other high-income countries than in the U.S.”, writes Business Insider. In other words, people from disadvantaged backgrounds have greater chances to reach the top in a number of other countries outside of the U.S.
To determine the extent of inter-generational mobility, the World Bank relies on a specific criteria: the share of children born to parents in the bottom half of the educational attainment in a given country that end up in the top quarter of that same distribution once they become adults.
With a share of 12.5%, the U.S. lags behind no less than 88 of the 135 countries examined by the World Bank, including 31 out of the 35 so-called “high-income” countries.
Including the Czech Republic, where 16.7% of children with parents in the bottom half ended up in the top quarter, making it the 12th best high-income country to attain the ‘American Dream’. In a similar vein, the Czech Republic is also known to have the lowest income inequality between the wealthiest and poorest parts of its population in Europe.
Other Central European countries are not far behind the Czech Republic, whose economic development is celebrated as one of the fairest and most sustainable ones in the world: Slovakia comes at the 18th position (share of 15.7%), followed by Poland (23rd place, 15%) and Hungary (29th, 13.3%).
According to the World Bank, the top 10 high-income countries where someone born in a family with a modest background has the most chances to grow up with similar educational opportunities than his/her peers with wealthier parents are almost all in Europe:
- Cyprus (22.8%)
- Denmark (21.1%)
- Slovenia (19.2%)
- United Kingdom (18.6%)
- Sweden (18.5%)
- Japan (18.1%)
- Estonia (17.6%)
- Germany (17.1%)
- Netherlands (17.1%)
- South Korea (17%)