Show Me the Money

How do rich people become rich? First Globals are the most likely of any generation to believe that rich people were born wealthy. Nearly two thirds (63.3%) of First Globals strongly or somewhat agree that “in the USA, more often than not, rich people were born rich.” By contrast, only 34.9% of those over 65 feel the same way, with other generations falling in the middle.

Economic mobility – the ability to go from poor to rich within one’s lifetime – is often held up as one of the ideals of the U.S. as well as one of the things that (supposedly) makes us different from other countries. But it seems that First Globals are less likely to believe that economic mobility is the primary reason why rich people are rich. Why might that be? And how do you think most wealthy people come by their money?

Brother, Can You Spare a Dime?

First Globals™ are the most optimistic of all generations regarding the economic future of the U.S. When asked which scenario is more likely, the country having continuous good times during the next five years or the country having periods of widespread unemployment or depression, 26.9% of First Globals™ believed “good times” was the most likely scenario. In contrast, only 17.6% of those 30-49, 13.4% of those 50-64, and 11.9% of those over 65 felt the same way. However, First Globals™ (along with other generations) were still more likely to believe that unemployment and depression were more likely than good times, with 34.9% of First Globals™ saying that “bad times” were the most likely situation for the next five years.

Do you think it is significant that First Globals™ are more optimistic than other generations, even if more of them are pessimistic than optimistic? Are First Globals™ naïve in their optimism, or do they see themselves as helping propel the country forward? Do you think it is more likely that we see continuous good times or unemployment and depression in the next five years?