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Revisiting the American Dream: Social Mobility and Poverty in the United States

Authors: A. Désiré Adom;

Revisiting the American Dream: Social Mobility and Poverty in the United States

Abstract

Abstract Nowadays, a growing number of Americans are losing faith in or questioning the matter-of-factness of the American Dream. A major culprit of this situation is the pernicious effect of poverty that has been lingering, while mostly remaining intractable over time. This paper endeavors to explore another avenue of solutions to address poverty through social mobility. Using a time series dataset within a vector error correction model (VECM), it has been uncovered that the pursuit of social mobility exerts a depressing effect on poverty. Based upon these findings, this investigation argues that diligent economic policies to promote the human development index (HDI) in the US, especially by furthering efforts to prop up outcomes in education and healthcare. Moreover, revitalizing, reinforcing, and expanding social overhead capital, to improve the letter grade C on America’s current infrastructure Report Card, will provide a comprehensive solution to making lasting inroads in both the fight against poverty and the enhancement of social mobility. JEL Classification: I31, I32, O51, C82.

Keywords

Poverty, Social Overhead Capital, Social Mobility, VECM., Poverty, Social Overhead, Capital, Social Mobility Overhead, VECM.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average