> inter-generational wealth mobility in the US is quite low, much lower than in most of Europe
I was surprised by this so I looked up a few sources. Not saying it's not true but we must be looking at different sources, here's a chart on "intergenerational earnings elasticity and with only a couple European countries (Italy and UK) slightly above the US:
I think you're misreading the graph. The Y axis is immobility. In other words, Italy and the UK have lower mobility than the US. Every other European country on the list has greater mobility.
You've read the figure incorrectly. Smaller values for Intergenerational Earnings Elasticity represent greater equality of opportunity[1] and correlate with less inequality.
I was surprised by this so I looked up a few sources. Not saying it's not true but we must be looking at different sources, here's a chart on "intergenerational earnings elasticity and with only a couple European countries (Italy and UK) slightly above the US:
https://en.wikipedia.org/wiki/Social_mobility#/media/File:Th...