Essay on The American Dream More Difficult Now than Ever

Many people have their own American Dream which has become their driving force and center of their life. However, not everyone can achieve their American Dream; it depends on many factors, such as income inequality, unstable social-welfare system, and different races. Based on the situation, Paul Krugman, the economic teacher at Princeton and the winner of Economics of the Nobel Prize in 2008, Tamara Draut, the director of the Economic Opportunity Program at Demos, and The Economist, a London-based weekly publication that is read by business, political and financial decision makers, all of them state a common point that it is harder and harder for people to achieve the American Dream now. The American Dream was not founded based on a†¦show more content†¦Hence, it is difficult for people to achieve their American Dream. The first problem that obstructs the way to achieve American Dream is income inequality. Krugman explains â€Å"The fact is that vast income inequality inevitably brings vast social inequality in its train† (324). The reason why Krugman states this is because a person’s income mostly decides the standard of living. A person’s standard of living contains two parts; one is how many substances he/she can owns, the other one is how much ability he/she can contributes to his/her American Dream, and all these are affected by one factor: income inequality. In most people’s eyes, owning a big house, paying for monthly bills and children’s tuition fees is the most important things in their life, but all these depend on how much money a person can earn. Based on their different backgrounds, the income of different people will be totally different, so income inequality is created, and it makes achieving the American Dream difficult. On the one hand, different purchasing power is decided by income inequality which means people who have high wages can buy a house or pay monthly bills much easier than people who have lower wages do. On the other hand, income inequality causes the rich people can send their children to the best schools in the world, and afford them a comfortable academic and living environment. On the contrary, the families in middle-class and working-class will not be able afford so muchShow MoreRelatedAmerican Dream Ideal Essay1518 Words   |  7 Pagespositive outcomes with also occur, which brings into existence the American Dream ideal. The term â€Å"the American Dream† became a commonly used phrase within society by a man named James Truslow Adams in the early 1930’s. During this time period, the Great Depression was in full affect, and people felt as if they were at a dead end in their paths. There was a lack of jobs, a lack of money, and an overall lack of hope. 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