Americans Have Lost Faith They Can Move From Poverty To Riches

People in the United States and other developed countries no longer have faith that hard work will improve their life, according to a new poll by the World Economic Forum.

Nearly two-thirds of respondents in the US said it was no longer common for hard work to be a path out of poverty. The lack of faith in the system to deliver upward mobility was even more dramatic in Western Europe, where only a fifth of respondents believed hard work could pull a person out of poverty.

According to the poll, developing nations have the most faith in upward mobility. In India, 69 percent of those polled said they believed the present system would allow them to improve their economic position in society. Nearly 40 percent of respondents in India said they believe upward mobility was extremely common, while in Japan and Italy, just 2 percent did, and in Spain this figure was only 1 percent.

Analysis in Harvard Business Review found that half of American workers said they are “often or always exhausted due to work” up by 33 percent in 20 years.



Image: “kuala lumpur” by AK Rockefeller is licensed under CC BY 2.0