Column Barack Obama’s American dream

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: Barack Obama, now formally nominated by the Democratic party as its presidential candidate, embodies a powerful tension at the heart of American narratives. If he wins the Presidency, he will be hailed as an affirmation of the American dream—living proof that anyone born in the United States, even a black person, can rise to the highest office of the land. But he has also characterised his journey as “improbable”, as a path to success that was against the odds. Which story is true?

The numbers on opportunity and race suggest that Obama is indeed unusual. The myth of opportunity is powerful, is reflected in beliefs, and underpins the least inclusive system of social provisioning in the rich world. It is also misleading.

Being the land of opportunity is a foundational narrative of the United States. Effort and talent receive their just rewards. For the sake of greater opportunity, people tolerate greater inequality than in Europe or Japan. The rich deserve their wealth; the poor their fate. One side of the story is true: the United States is more unequal than Europe and Japan. The share of the bottom 20% of the population in total income is 6%, compared with 9% for Germany and Sweden. The share of the top 10% of Americans is 30%, compared with 22% for Germans and Swedes.

The narrative influences policies. Tax cuts that primarily benefit the rich are passed with relative ease. Extraordinary levels of CEO remuneration are not a source of controversy. There is much less support for spending to help the poor than in Europe. Total social spending is less than 15% of GDP in the United States compared with 26% in Europe. Some 44 million Americans are without health insurance. This would be unthinkable in Europe, where even Margaret Thatcher, a radical, right wing leader, did not attack the British National Health Service. Universal health insurance is now finally on the agenda if Obama is elected.