2025: Empowering the Future through Education, Diversity, and Hope

Affluence in America: Hard Work or Simple Luck?

Presenter Information

Haley Wartelle, Gonzaga University

Location

Hemmingson Ballroom

Start Date

15-4-2025 11:15 AM

End Date

15-4-2025 12:15 AM

Description

While “the American dream” sells a message that with hard work anyone can achieve financial success, research indicates that only 6% of people actually follow the “rags to riches” story, moving from low-income to the upper class throughout their lifetime. The probability that a child born in the lowest 20th percentile will reach the top 20th percentile is 7.5% (Reeves, 2018). This number is especially low when compared to other countries that have almost double the economic mobility, like Denmark (11.7%) and Canada (13.5%) (Reeves, 2018). Additionally, if someone spends half or more of their youth in poverty, their chances of being in poverty as an adult are greater than 40% (Fass, 2009). Indeed, the single greatest predictor of one’s socioeconomic status as an adult, is a factor absolutely out of our control-- the socioeconomic status of our parents (Fass, 2009). This poster will deconstruct the “American Dream” and will show that socioeconomic status is, in fact, greatly determined by simple luck. By employing real stories to illustrate how factors out of our control drive our financial success, factors that include loss of a loved one, illness, and accidents, this poster will critique the narrative that individuals are responsible for their poverty.

Comments

Poster Session A

Publication Date

2025

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Apr 15th, 11:15 AM Apr 15th, 12:15 AM

Affluence in America: Hard Work or Simple Luck?

Hemmingson Ballroom

While “the American dream” sells a message that with hard work anyone can achieve financial success, research indicates that only 6% of people actually follow the “rags to riches” story, moving from low-income to the upper class throughout their lifetime. The probability that a child born in the lowest 20th percentile will reach the top 20th percentile is 7.5% (Reeves, 2018). This number is especially low when compared to other countries that have almost double the economic mobility, like Denmark (11.7%) and Canada (13.5%) (Reeves, 2018). Additionally, if someone spends half or more of their youth in poverty, their chances of being in poverty as an adult are greater than 40% (Fass, 2009). Indeed, the single greatest predictor of one’s socioeconomic status as an adult, is a factor absolutely out of our control-- the socioeconomic status of our parents (Fass, 2009). This poster will deconstruct the “American Dream” and will show that socioeconomic status is, in fact, greatly determined by simple luck. By employing real stories to illustrate how factors out of our control drive our financial success, factors that include loss of a loved one, illness, and accidents, this poster will critique the narrative that individuals are responsible for their poverty.