Reality of the American Dream Reflective Paper

Reality of the American Dream Reflective Paper

Instructions/Descriptions

Reality of the American Dream Reflective Paper

[Order Now]

Follow this and additional works at: https://www.exhibit.xavier.edu/xjur

This Article is brought to you for free and open access by Exhibit. It has been accepted for inclusion in Xavier Journal of Undergraduate Research by an authorized editor of Exhibit. For more information, please contact exhibit@xavier.edu.

Recommended Citation High, Madeline (2015) “The Reality of the American Dream,” Xavier Journal of Undergraduate Research: Vol. 3, Article 2. Available at: https://www.exhibit.xavier.edu/xjur/vol3/iss1/2

https://www.exhibit.xavier.edu/xjur?utm_source=www.exhibit.xavier.edu%2Fxjur%2Fvol3%2Fiss1%2F2&utm_medium=PDF&utm_campaign=PDFCoverPages

https://www.exhibit.xavier.edu/xjur/vol3?utm_source=www.exhibit.xavier.edu%2Fxjur%2Fvol3%2Fiss1%2F2&utm_medium=PDF&utm_campaign=PDFCoverPages

https://www.exhibit.xavier.edu/xjur/vol3/iss1/2?utm_source=www.exhibit.xavier.edu%2Fxjur%2Fvol3%2Fiss1%2F2&utm_medium=PDF&utm_campaign=PDFCoverPages

https://www.exhibit.xavier.edu/xjur?utm_source=www.exhibit.xavier.edu%2Fxjur%2Fvol3%2Fiss1%2F2&utm_medium=PDF&utm_campaign=PDFCoverPages

https://www.exhibit.xavier.edu/xjur/vol3/iss1/2?utm_source=www.exhibit.xavier.edu%2Fxjur%2Fvol3%2Fiss1%2F2&utm_medium=PDF&utm_campaign=PDFCoverPages

Finding The Good Life in the 21st Century Madeline High

The American Dream is best defined by James Truslow Adams as a “dream of land in which life should be better and richer and fuller for every man, with the opportunity for each

according to his ability or achievement” (Adams 404). Throughout the centuries of the United States, a better and fuller life has meant different things to different people. Today, a better and fuller life is often viewed in terms of economic and material prosperity such as buying your dream house or car.

Since the founding of the United States, the American Dream has continued to become more and more materialistic. The value of people’s success is not measured in their quality of life, but through the amount of property they have. Our society is very consumer driven and greatly emphasizes the importance of material gain.

It is undeniable that the material prosperity of our country has made life easier and more efficient for many people and that it plays an important role in the American Dream: economic success can help people attain certain dreams such as financial security.

However, I believe that people’s view of a better and fuller life is grossly unbalanced and narrowly defined. Many people tend to associate the Dream only with economic prosperity. The association of the Dream with quality of life is largely neglected.

I argue that two of the greatest challenges facing the American Dream today are 1) the emphasis on material prosperity and 2) the wealth inequality in the United States. In order for the American Dream to become fully available to more people, there needs to be a balance between economic prosperity and the quality of life.

The focus on material gain instead of the quality of life has created an unequal playing field for people in the United States which has led to wealth inequality. There are many people who work hard and are unable to make ends meet while there are others at the top who are at an unequal advantage because they received an inheritance or some type of financial support.

The focus on materialism and consumption has decreased people’s ability to be satisfied. Americans work so hard for material gain that they often are unable to find joy and excitement in their lives. James Truslow Adams described it best, writing: “we forgot to live, in the struggle to ‘make a living’” (406).

The issue of materialism and wealth inequality is not a modern issue. At the time of perceived upward mobility during the mid- 1800’s, over 90 percent of the people at the top inherited money, and only 2 percent of the people at the bottom were able to rise from the bottom to the top (Fortin).

While the nation believed that individuals could rise from poverty to wealth, this scenario was not very realistic. One example of this misperception was the election of Andrew Jackson. The Age of Jackson has often been interpreted as the age of the common man. Jackson in fact represented the uncommon man rising from rags to riches.

Many Americans identified with the ideals of hard work, self-reliance, and determination that Jackson represented. However, while Jackson was personified as a symbol of the American Dream to the people, it was truly uncommon circumstances (and men of wealth) that helped Jackson get into the White House. For the first time in U.S. history, one million dollars was spent on advertising Jackson’s campaign.

The wealth gap in the United States remained relatively the same over the next century. During the Industrial Revolution the U.S. made a dramatic shift from an agriculture society to a predominately industrial society. The new industry created advancements that enhanced the lives for many.

While the lives of almost all people, including those at the bottom did improve materialistically, it did not lessen the wealth gap. One percent of the population still controlled 20 percent of the wealth, and 10 percent of the population-controlled 50 percent of the wealth (Fortin). Since the Industrial Revolution, the wealth gap in the United States has increased dramatically.

In an article, “Who Rules America: Wealth, Income and Power,” Professor William G. Domhoff researched the trends of wealth inequality in our country in the year 2010. Domhoff asserts that “in terms of financial wealth (total net worth minus the value of one’s home), the top 1% of households had an even greater share: 42.1%” (Domhoff).

This is over double the amount of wealth controlled by the top 1 percent during the Industrial Revolution. Through these statistics, it is evident that the wealth gap in our country is growing. I believe that the growing wealth gap is making it easier for the people at the top to achieve their dreams but more difficult for the people at the bottom to succeed.

In the past many people came to the United States to leave the stratified European society. However, upward mobility is becoming increasingly difficult in the United States. According to research by the PEW charitable trusts, “43 percent of Americans raised at the bottom of the income ladder remain stuck there as adults, and 70 percent never even make it to the middle” (1).

The data shows that the dream of rising to the top economically is only available to a select few. The wealth gap in the U.S. is also much more dramatic than in the majority of European countries. According to the CIA Factbook, the United States has the 41st highest “degree of inequality in the distribution of family income in a country” (“The World Factbook”).

The CIA’s list consists of 141 different countries. The countries at the bottom of the list, which are the countries with the greatest equality of wealth, are mostly European countries. The United Kingdom has the 35th most equal distribution of wealth and Germany has the 12th most equal distribution of wealth. (“The World Factbook”).

This information strongly contradicts the belief that the United States is a less stratified society compared to Europe. The extreme difference between the degree of inequality of wealth between the U.S. and other European countries emphasizes that much wealth inequality exists in the United States.

Wealth inequality in the United States has also played a large role in people’s perception of achieving the American Dream. In a study of the American Dream entitled, “Can the American Dream Survive the New Multiethnic America?

Evidence from Los Angeles,” Mara A. Cohen-Marks and Christopher Stout interviewed people of different ethnic groups regarding their perception of the American Dream. The results show that the people interviewed believed materialism and the notion of economic prosperity played a large role in people’s perception of the American Dream.

The results confirm a “strong association between homeownership and the American dream” (834). The study also showed that “income is highly correlated with perceptions of achievement of the American dream. Angelinos with the highest household incomes are 50% more likely to believe that they have achieved the American dream than are the poorest respondents in our data set” (835).

The statistics suggest that the Dream has come to seem exclusive. People who are poor are less likely to believe that they can achieve the American Dream. Reasons for the increasing wealth gap in the United States are presented in Heather Beth Johnson’s book, The American Dream and the Power of Wealth.

[Order Now]

Johnson interviewed and analyzed black and white families regarding the power of wealth and the American Dream. In her interviews with families, many people attributed their success to their own hard work, and many of the families that were struggling blamed themselves for their failures. Johnson however, affirms that financial success is not based solely on hard work. She attributes many families’ success to intergenerational transfers.

“Intergenerational transfers” refers to the passing along of assets both at death and throughout one’s life” (8). Through her research, Johnson discovered that the majority of wealth, “between one-half to more than 80 percent all accumulated wealth is received through intergenerational transfers of assets” (7).

Reality of the American Dream Reflective Paper

Reality of the American Dream Reflective Paper

Place the Order Here: https://standardwriter.com/orders/ordernow / https://standardwriter.com/

Reality of the American Dream Reflective Paper

PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!