If you are referring to an official caste system, then India hasn’t had one since independence (and there is aggressive affirmative action in favor of historically disadvantaged castes). If you are referring to an unofficial caste system, then the caste system in the USA (e.g. school segregation by race and class, wealth inequality) is probably worse than the one in India.

I think a lot of people misunderstand just how rich rich people are, and just how poor poor people are. it’s not the difference between one or two parents working. it’s the difference between owning a house and owning several houses across several countries. it’s the ability to make risky investments without the outcome affecting your day to day life.

I should mention, though, there’s a clear problem with analyzing statistical brackets vs. flesh and blood individuals. It’s completely unsurprising that people in the top 1% accrued a lot of wealth since 1983. If they hadn’t, they probably would be classified in the top 1%. “Rich people accumulated wealth” is hardly earth-shattering.

I am saddened by this comment because I’m assuming you’re a young person who believes opportunity is lost.

For all its flaws (gaps between rich and poor ebb and flow over time) America has always been and still is the first destination of choice for the brave who are willing to leave their countries for another, for an opportunity to better themselves and their families. And our universities attract more foreign students than any other country in the world.

We are the most diverse country in the world.

We innovate more than any other country, producing new technology and art at a rate that dwarfs others.

Our economy is the world’s largest by far and, combined with our military, gives us the only-superpower standing the world has ever known.

Unlike China, India and others we have no caste system that limits individuals by birth. (Yes, wealth distribution is, has been, and always will be challenge but that’s the case throughout the world.)

America stumbles but works on its flaws. Most people alive in America today have seen tremendous progress in civil rights, women’s rights, GLBT rights, reduction in starvation/infant mortality and progress toward almost-universal healthcare.

While some have it easier, people willing to develop marketable skills and work hard can advance themselves and have a good life. Americans have the highest standard of living in the world.

I know the America dream is alive because I see it everyday. And happy 4th of July!

What do we know about the target audience of Rags to Riches to Rags, and for what audience does Mark Rank write?

For me the important question is does the author provide a proper context for readers to understand the graphical data presented, because honestly just looking at the two graphics I am left with lots of questions, including how does breaking this down by race provide additional insight (not to say that it couldnt be valuable, its just not clear from this post), I am also concerned the graphs and related excerpt only acts to confirms pre-existing notions and bias – are there other examples of potential for incorrect inference in the book?
If The author’s self education helps a less informed audience with the appropriate context in which to grapple with the nature of inequality ( like the significance of access to resources, and the understanding that access once denied has compounding multi-generational effects.) – its a win for all. Not great would be some Bell Curve type logic to explain inequality…

Personally, I am not holding my breath that an author that includes statements like “the American dream is still possible” will provide mind blowing discourse on the nature of inequality – but I am always hopeful for a surprise :-)

I would further argue that the portion of Net Worth with liquidation and investment potential is the true measure of wealth. That would be your Pew Consumer Financial data LESS primary residence and personal possessions (cars and such) LESS Liabilities, like taxes and loans.

I’ll guess that you can easily cut $350,000 off the Whites to get to my number and even then it seems high to me. I have a hard time believing the “average” (mean?) Adjusted Net Worth is above 400,000.

Also, note that the real deep poverty in the US is best measured geographically and it’s where its ALWAYS been–in the red/southern states sans Florida. Not a pretty picture down there.