So much for the land of opportunity!

I quote from The Economist:

Scandinavian societies (are) very mobile. Only around 20% of parents’ relative wealth (or poverty) is passed on to their kids. China, in contrast, is fairly immobile: 60% of income differences persist between generations. The big surprise is the United States, where parental income explains around half of the differences in adult children’s income, much more than in Canada, and more than in any European country except Italy and Britain. According to this measure, social mobility in America now is lower than in most of Europe.