I believe I was first exposed to the “American Dream” when my parents told me their story of how they both ended up in Raleigh, North Carolina. My father, the son of a truck driver grew up in a small town in Indiana. After struggling through school due to the lack of glasses and being unaware that he had dyslexia. Regardless he had big dreams of leaving Fort Wayne, Indiana. My mother, daughter of an successful entrepreneur in Ethiopia. My mother and her sisters were given the chance to go to America to learn English and go to college. After graduating, word spread throughout the family that my great uncle was arranging a marriage. With the help of her sisters she ran away to North Carolina where she had a friend from college. She also had dreams of living in America, a place of better opportunities for women especially. From similar and very different backgrounds my parents both understood that they wanted to do well financially in hopes of enjoying themselves as well as being able to give their children more opportunities.
One does not have to be an immigrant to have the American Dream. For me the main principles are Working hard for a better life of some kind. Most of the time The American Dream is related to wealth and how one created it. The American Dream is to have the goal to work hard to be able to sustain a life that you did not have before.The American Dream centers around the idea of social and financial mobility. In America it is feasible to work hard and one day enter a new financial class. Gatsby for example, gained his money through smart investments in the stock market. The entrepreneurial spirit is highly praised within American society. The entire idea of being self made inspires lots of people, and America especially incentivizes this idea. We, see this in today's tax reform, shows like Shark Tank, and the overall systems of creating for instance and LLC (Limited Liability Corporation).
One does not have to be an immigrant to have the American Dream. For me the main principles are Working hard for a better life of some kind. Most of the time The American Dream is related to wealth and how one created it. The American Dream is to have the goal to work hard to be able to sustain a life that you did not have before.The American Dream centers around the idea of social and financial mobility. In America it is feasible to work hard and one day enter a new financial class. Gatsby for example, gained his money through smart investments in the stock market. The entrepreneurial spirit is highly praised within American society. The entire idea of being self made inspires lots of people, and America especially incentivizes this idea. We, see this in today's tax reform, shows like Shark Tank, and the overall systems of creating for instance and LLC (Limited Liability Corporation).
There is a difference between being rich and being wealthy. In my mind someone is wealthy when they hire others on their own dime. For example, a personal chef, a personal assistant/shopper, a nanny, a maid, financial planner. To be wealthy you need to be in the top 1% or at least close to it.
Figure 1. The percentage of global wealth owned by the top 1% surpassed 50% as of 2016.
Source: Oxfam
America being the vast country that it is has a vast array of opinions. Oftentimes attitudes toward wealth and poverty are linked to socio-economic backgrounds and political affiliations. Many believe that the economic classes are being further divided due to income and wealth inequality that may or not be related to racial, skill, and gender bias. Branko Milanovic believes that the income disparity is in part due to the Industrial Revolution. Which drove wages up in certain countries.
I believe that the wealthy should continue to help others on the bottom half of the income spectrum in effective ways. Bill and Melinda Gates are an excellent example of the wealthy using their power for good. I don't think a world will ever exist without a considerable gap between the rich and the poor. Mainly due to capitalism. I also wish their were better systems in place for the impoverished. I believe that people of color are the main participants of the lower income class in America due to their cultures. Peer pressure plays a sizable role, as well as representation, and support from loved ones. I don't see the American dream dying anytime soon. Most know that with money comes power. I value the American Dream it encourages people to follow their dreams. I also believe that the American dream is so popular due to the idea that wealthy people are admired, powerful, and popular. Like many others when I grow up, I want to of course be financially stable and secure. They say that money can't buy happiness but I disagree. Used in the right ways it absolutely can. Although being wealthy does come with it's own subset of problems such as fake friends. Regardless, you can still live a meaningful and valuable life.
