Despite the dream remaining a unifying factor across all the diversities, income inequality continues to derail the chances of some individuals realizing the noble dream. Based on such a perspective, this paper discusses the various aspects of economic mobility within black and white families in U.S.
The underlying factors in achieving the American dream lies in an individual’s efforts, intelligence, and skills with little or no concern for a wealthy background as a basic factor. Additionally, little concern is attributed towards the historical inequalities that have existed in the American society, contributed to by the big gap margins existing between the poor, the middle-class, and the rich. One critical aspect and notion accepted by a majority of Americans attributed to American economy is due to the high degree of mobility among the diverse society. One critical aspect on the aspect of mobility states that, individuals among the low class and high-class show less mobility as compared to those in the middle-class, where an individual’s family background in terms wealth and income has a significant effect in determining the future of such an individual. Based on the fact that children from rich families tend to lead similar lives, and on a similar perspective those from poor families tend to experience similar economic mobility.
There are various key concepts pertaining to the economic mobility within the black and white families in the United States. Despite the balance that has been established in terms of economic mobility among the Americans, racial gap indifference has significantly been a major concern. To a majority of middle-class earners, parents seem to have passed the economic mobility to their children who led an almost similar life rank in the economic mobility ladder. For the blacks of the middle-class, however, a different scenario is evident. Another key concept is that despite both the whites and blacks having had their incomes