econ2301 principles of macroeconomics
ts Answering these questions in full detail
1. How would you define the American Dream? How important is money as a measure of success?
2. Is this idea unique to the USA? Is there a Canadian, British or Scandinavian dream? Was it originally intended to be unique to the USA?
3. As individuals, do we have a right to expect certain things to be provided by the system, such as health care, education, minimum level of subsistence, food/ shelter, etc.?
4. Is the American dream still a possibility for those who are new to this country?
5. Is it still realistic to think about becoming wealthy in this country?
6. How would you answer critics who say that the “American Dream” has become the “American Daydream” with hopes of a lottery win or TV show fame rather than hard work?
7. What role—if any—should government assume in keeping the dream alive?
8. The American Dream is almost impossible to separate from our work ethic…should we pay more attention to the non-work part of our lives? The Europeans say that we live to work and they work to live. Who comes closer to the ideal?
9. Are you happier if you are wealthier?
Answer preview
Adams (2012) defined the American dream as “A dream of social order in which each man and each woman shall be able to attain to the fullest stature of which they are innately capable and be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position” (Adams, 2012). The original intention of James Truslow Adams was to describe equality across the different classes of people. However, over the years, the phrase has evolved, and in economic terms, it means advancement in the various areas in life. Since time immemorial, the United States of America has always leveraged its competitive edge as a superpower. As a result, this has aided the pursuant of the American dream. America’s environment has given its citizens a possibility of upward mobility regardless of their race, education status, and background. The significant achievements of achieving the American dream are education and homeownership (Adams, 2012).
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