Research Paper On The American Dream

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The American Dream - A Millennial’s Aspiration
For many years the American Dream has enticed many people as it offered the prospect of a new life in America. This appealed to immigrants and Americans alike as the American Dream represented hope, economic security, and a chance at a better future. Coined by James Truslow Adams in 1931, the “American Dream” referred to an idealist life in which freedom, equality, and opportunity were available to every American through hard work. Although this may have been evident for many Americans in the past, with the onset of economic inequalities between the social classes, financial problems, and changes in living conditions, the idealized American Dream has been increasingly difficult to attain among …show more content…

One of the barriers to the now-elusive American Dream is socioeconomic inequalities among the upper, middle, and lower classes. Upon examining the income percentages of numerous American families via the United States Census, Stanford professor Raj Chetty and sociologist David Grusky have created an “index” of the American Dream. The results were alarming, as it revealed that fewer children born in the 21st century and the Millennial Era made more than their parents, due to income stagnation and inequalities at work and school (See Appendix A). These findings posed a stark contrast to years immediately after the second World War. In his article, The American Dream, Quantified at Last, David Leonhardt asserts that “achieving the American Dream was a virtual guarantee for this [Baby Boomer] generation … and the bounty from its growth flowed to the rich, the middle class and the poor alike.” Following a similar trend was the U.S. gross domestic product (GDP). As reported by the LA Times, “The U.S. GDP had often grown at a rate of more than 5% in postwar years and hit 7.3% in 1984… Growth hasn’t reached 5% annually since then; it was 2.6% last year [2015]” (Etehad, Kitroeff). Both studies show the result of economic stagnation was not due to market collapse or inability to cope with consumer demands but rather growing socioeconomic inequalities …show more content…

However, because of advances in technology and industry, the United States is well-positioned to enact social policies to ensure that millennials and future generations will be able to grow old successfully and healthily. Coupled with extensive coaching on the pros and cons of current career fields and their projected salaries, students will be more well-informed before making life-changing decisions. All these can help millennials save for their future while working toward success. Enticing all Americans alike, the ideals of the American Dream appeal to many as a foundational endeavor in American society and

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