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The American Dream is more attainable in this country (and the weather is good too)

The United States has been overtaken by Australia as a land of opportunity where it doesn’t matter who your parents are, says a new report.

Economic mobility from one generation to the next is higher Down Under than it is in the USA, says a detailed analysis of intergenerational incomes by a team of Australian math, finance, and economics professors.

“We find Australia is more mobile than the USA, regardless of which approach is used,” they write in the latest issue of Australia’s Economic Record, a journal published by the Economic Society of Australia. The study, Direct Measures of Intergenerational Income Mobility for Australia, was conducted by math professor Chelsea Murray and economics professor Silvia Mendolia of the University of Wollongong, finance professor Robert Graham Clark of the Australian National University in Canberra, and economics professor Peter Siminski of the University of Technology in Sydney.

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