Americans remain broadly optimistic about their economic prospects in the middle of the most severe recession since World War Two, according to a survey released Thursday.
The Pew Economic Mobility Project found that despite dismal economic conditions and decades of widening income inequality, Americans still widely believe in the "American Dream": the idea that success is determined by one's willingness to work hard, not the circumstances of one's birth or other external forces.
The nationwide survey of 2,119 adults found that:
79 % said it is still possible to get ahead in the current economy;
72 % said they believed they will personally be better off 10 years from now;
74 % said they were at least somewhat in control of their economic situation, but only
43 % said that other people were in control;
71 % said personal ambition was a more important determinant of success than external conditions.
But the survey also reflected the worsening economy: only 32 percent rated their own personal circumstances as "excellent" or "good," down from 52 percent in 2006.
"There is a strong and a uniquely American optimism which is persisting even in the face of these very, very trying times," said John Morton, the managing director of economic policy at the Pew Charitable Trusts, the nonprofit organization that sponsored the survey, which has a margin of error of 3.4 percentage points.
That optimism is somewhat at odds with the group's 2008 report, which found that parents' income is strongly linked to one's chances to succeed.
Some 39 percent of those surveyed said that it is common in America to be born poor and become rich, when in fact only 6 percent of Americans born to parents in the poorest fifth of the population end up in the richest fifth.
Most did not believe that the chances of success are tied to parents' income when in fact a strong link does exist, the group said.
The survey, conducted between Jan. 27 and Feb. 8, also found widespread skepticism toward government efforts to reduce inequality. Some 46 percent said the government does more to hurt than help people's efforts to move up the economic ladder. But specific government policies got a better reception.
A majority of respondents backed making college affordable, reducing healthcare costs, making retirement savings easier and improving early childhood education — all efforts that President Barack Obama has proposed in his first months in office.
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3.12.2009
World's richest at a time of crisis
Who are the world's richest today?
In March, 2008, the Forbes published its list of the richest people in the world. The country that had the most spots in the top 15 was India followed by the U.S.
But our latest crisis has largely reconfigured the world’s map in terms of riches.
According to Forbes Magazine's 2009 list, not only has the overall number of billionaires diminished from 1,125 to 793, but their wealth has dwindled.
Together, the top three lost $68 billion in the year to Feb. 13, when Forbes 23rd annual ranking of the world's billionaires compiled its list of the wealthiest people in the world.
Titled "Billionaire Bust", this month’s Forbes special issue announced a drop on this year’s wealth of more than 45%, 2.4 trillion U.S. dollars, down from 4.4 trillion last year.
The U.S. has regained the top spot, while India has lost not only its leading post, but has been replaced by China as leading the group of most promising emerging economies.
New York City replaced Moscow as home to the most billionaires, with 55, but still the U.S. has 110 fewer billionaires than it did a year ago.
Russia, which witnessed an increase in the number of super- rich in recent years, underwent among the biggest drops, with the number of billionaires down to 32 from 87.
In the midst of this, Bill Gates regained his crown as the richest man in the world, worth 40 billion U.S. dollars, despite losing 18 billion in the past 12 months.
Not as lucky, Warren Buffet, Forbes’ former leader worth 37 billion U.S. dollars, had to be content with second place after sustaining huge losses in the past year.
Nevertheless, he remains confident about the future: "Our economic system (US) has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so."
Third place is held by Mexican Carlos Slim Helú, worth 35 billion and richest man in Latin America, whose fortune nonetheless, didn’t remain intact in these times of economic turmoil.
Indian businessman Anil Ambani, who was the biggest gainer on last year's list, fell to 34 with an estimated wealth of 10.1 billion U.S. dollars after having 32 billion wiped out over the last 12 months.
According to Steve Forbes, Chief Executive of Forbes Magazines, "The typical billionaire is down at least one third on their net worth."
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Apply now for UEFA Cup final tickets
Ticket sales to the general public for the 2009 UEFA Cup final in Istanbul are continuing exclusively on uefa.com. The final of the prestigious European club competition will take place at the Fenerbahçe Şükrü Saracoğlu Stadium on Wednesday 20 May from 20.45CET.
Application process
The international general public ticket sales process began on Monday 23 February at 12.00CET and will run until Friday 20 March at 18.00CET. The application process is carried out exclusively via uefa.com, with each applicant having to complete in full the online application form. Should the demand for final tickets exceed the supply, then every valid application will enter a lottery or ballot to decide the allocation of the 11,500 tickets that are being made available to the general public. These tickets are intended for neutral fans wishing to attend the final whoever the finalists may be, and in the event of a lottery each valid application will go into the ballot regardless of the time of submission, provided it falls within the application period.
Ticket categories
Each successful candidate will be entitled to a maximum of two tickets. With the submission of the application, the applicant accepts the ticketing terms and conditions. Ticket price categories available to the general public are: Category 1 (centrally positioned): €130; Category 2 (mainly in the corners): €100; Category 3 (upper tier, behind the goals): €75; and Disabled: €45. The administrative fee is: €15 for successful applicants within Turkey; €30 for ticket orders made elsewhere in Europe; or €40 for neutral fans from the rest of the world. Payment is by credit card only. Applicants will be informed by email by 3 April if they have been successful or not, with tickets being dispatched from 15 April by secure mail. Candidates will be able to check the status of their application on uefa.com with their log-in information from 4 April.
Allocations
The net capacity of the Fenerbahçe Şükrü Saracoğlu Stadium for the UEFA Cup final will be about 42,000. Supporters of the two finalist clubs will be served via their clubs directly, with more than 50 per cent of the stadium capacity being reserved for the followers of the two teams. Each finalist will be able to take up to 11,500 tickets and will distribute these directly to their fans. Approximately 7,500 tickets will be allocated to the European football family, comprising UEFA, the local organising committee, national associations and commercial partners.
Terms and conditions
Any information requests should be addressed to Biletix, the ticket agency appointed by the host Turkish Football Federation – phone +90 216 556 98 05, or email uefacupfinal2009@biletix.com. All applicants are bound by the ticketing terms and conditions. Action will be taken in cases of infringement. Online applications will be checked against police data to ensure that anyone banned from stadiums is unsuccessful in any attempt to purchase tickets. Persons attending the final are warned that tickets will be personalised and that security checks at the stadium are planned. UEFA underlines that no tickets are being distributed via agencies or brokers. UEFA also encourages fans not to be lured into deals with touts who not only demand exorbitant prices but are often not in possession of the tickets they purport to have for sale.
APPLY FOR TICKETS
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English teams dominate draw lineup
There will be an English flavour to the UEFA Champions League quarter-final draw in Nyon on Friday 20 March after Manchester United FC and Arsenal FC swelled the Premier League contingent to four by eliminating Italian opposition on Wednesday.
Open draw
Holders United, 2-0 winners on the night and on aggregate against FC Internazionale Milano, join Chelsea FC and Liverpool FC in the hat along with an Arsenal side who needed penalties to oust AS Roma after both legs finished 1-0 to the home team. FC Barcelona and east-coast rivals Villarreal CF are also still involved, although fellow Spanish Liga side Club Atlético de Madrid were knocked out by FC Porto on away goals. FC Bayern München, 12-1 aggregate victors against Sporting Clube de Portugal, complete the eight-team lineup. The draw is open and without country protection.
Stadio Olimpico final
The event at UEFA HQ begins from 12.00CET and will be conducted by UEFA General Secretary David Taylor and the ambassador for the Rome final, Bruno Conti. The quarter-final first legs will be played on 7/8 April and the return matches the following week. The four winning teams will know who they will meet in the semi-finals – taking place on 28/29 April and 5/6 May – as those pairings will also be decided during the draw ceremony. The final will be played on Wednesday 27 May at the Stadio Olimpico in Rome at 20.45CET.
2008/09 UEFA Champions League quarter-final lineup
Club (Country)
Arsenal FC (England)
Chelsea FC (England)
FC Barcelona (Spain)
FC Bayern München (Germany)
FC Porto (Portugal)
Liverpool FC (England)
Manchester United FC (England)
Villarreal CF (Spain)
©uefa.com 1998-2009. All rights reserved.
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