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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Behind Blue Eyes who wrote (57375)	12/20/2004 11:53:16 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<Set our top earners aside, and as the Princeton economist (and New York Times columnist) Paul Krugman has observed, "Swedish living standards are way ahead of those in the U.S. Swedish families with children that are at the 10th percentile -- poorer than 90 percent of the population -- have incomes 60 percent higher than their U.S. counterparts.”> Americans at the 10th percentile would not compare favourably in many ways with the Swedish 10th percentile, which in itself is sufficient to explain the difference. Scroll to the bottom lagriffedulion.f2s.com for the difference between Sweden and the USA which explains the situation. Apart from intelligence, social factors are, I guess, worse in the USA bottom 10%. Envy is one of the seven deadly sins. Being envious of the wealthy, who also happen to be the productive, is pathetic. Asking them if there's something they need doing would be a way of earning some of that wealth. The USA has earned the world's highest GDP per capita [not counting Luxembourg] and of course the high achievers earn heaps. <“Upward mobility is determined increasingly by a college degree that's attainable mostly by those whose parents already have money or education.” > This confuses causal relationships. It's not the parental money and education which cause the upward mobility. It's the brain-power and work. The brain power leads to the education which leads to the money. The offspring inherit the brains and usually some motivation. There are student loans, scholarships and other education financing for talented poor. Mqurice