Krugman's The Death Of Horatio Alger

Everywhere you look at the United States you can find economic stratification. From the kind of vehicle you drive, to the kind of house you live in, to the kind of restaurants you eat at the most you will find economic stratification. Some might ask, does any of that truly matter today? Yes, unfortunately, it does. An important goal for most people is what’s referred to as The American Dream. Whether it is to attend a good college, get a respectable job, purchase the perfect house, and have a small family or maybe just to start your own business; that dream starts with wealth. People with more money will have an easier time with achieving the dream than a lower income person would. With wealth comes power and prestige as well. People with more money have better life chances because they can afford better healthcare, education, healthier food, and safer neighborhoods just to name a few things.

The American Dream has held a special place in the hearts of patriots since the very founding of America in 1776. It has been a subject of many authors who grapple with its attainability, and is a beacon of hope gazed upon by victims of circumstance. The Dream has been interpreted by great minds in various ways, and has been deemed both an evil deception and a great promise of a better life. However, the American Dream has morphed from this promise of opportunities and second chances--in fact, it has become viewed as a cause for societal competition and the reason for decreasing happiness among the American people. As Americans attempt to “achieve their goals,” and “keep up with the Joneses,” they subject themselves to the materialistic cycle of greed. Success, and the goal of the American Dream, has been redefined. To be put simply, the American Dream is now to be richer than one’s neighbor, despite the fact that happiness--and thus, the Dream--cannot be achieved solely through wealth and material goods.

Wealth inequality in the United States has grown tremendously since 1970. The United States continuously reveals higher rates of inequality as a result of perpetual support for free market capitalism. The high rates of wealth inequality cause the growing financial crisis to persist, lower socio-economic mobility, increase national poverty, and have adverse effects on health and well being.

“Life, liberty, and the pursuit of happiness” is every person’s god given right, but what exactly is happiness? Americans have fallen in love with the idea of success, we fantasize about cars, clothes and caviar. We want to be living the high life, but the only way to access the high life is to work for it. To climb the ladder of success till you get to the summit. It’s the American Dream, but that’s just it, it’s nothing but a dream, a fantasy. The reality of life is a boring and stressful existence where many of us are just struggling to make a few dollars. It would suffice to say that the American Dream is in all actuality the American Nightmare. The American Nightmare is a pitiful existence inside a self-made

America historically owns the reputation of being the land of opportunity, and for generations immigrants have fled to the United States to experience the freedom and equality our government lays claim to. At the root of this reputation is the American Dream, the belief that with hard work anyone can succeed based solely on his or her merits. While definitions of success vary, the American Dream defines it as the ability to become a "self-made man," thereby rising to a more-than-comfortable state of living. The American Dream is believed to be blind to race, sex, or socio-economic status and at a first glance, seems to be almost Utopian. Conversely, repeated examples and statistics of the lower-classes, those continually facing the harsh

From the beginning of our lives, our parents, for the most part, want us to be happy. Pursuing that happiness becomes a goal that we strive for on an everyday basis. In America, it’s the American Dream. People come to this country in search of that elusive happiness. Ever since Thomas Jefferson wrote a very important sentence in our Declaration of Independence: “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty and the pursuit of Happiness” (Jefferson), our goals have been the same; searching for that happiness no matter what. However, as Ray Bradbury writes, if we focus too much on those aspects that make us

The American dream can be defined as the promise of living in America with opportunities for all, regardless of social class, and according to their ability and effort (Schnell, 2010). Proponents of the American dream believe that there is equal opportunity for all in the American society to achieve success. Success is not pegged on social status, race, or creed, but rather on an individual’s own efforts. The definition of the American dream has unique interpretations to different people. The most common meaning is that of a life of abundance and prosperity, characterized by economic rewards that enable one to live a middle class life of comfort. Here, success is measured by material possessions such as beautiful homes, cars, a high

The American Dream has always been a driving force in the lives of Americans. It has become a foundation of ideals and hopes for any American or immigrant. Specifically, one of the ideals that always exist is the dream of America free of class distinction. Every American hopes for a society where every person has the opportunity to be whomever he or she desire. Another ideal in the American dream is the drive to improve the quality of life. As one’s idea of the American Dream gets closer and closer, often times political and social ideals of America cause their American Dream to take a turn for the worst.

Many years ago today, the United States of America was the prime example of prosperity and opportunity. It established America with the idea that its citizens would be guaranteed life, liberty, and the pursuit of happiness. Today, it is true that people have liberties and are free to pursue happiness. However, in recent years, in the worst recession since the Great Depression. Unemployment, growing economy inequality, and medical care have skyrocketed. Despite the odds, the American Dream is still a goal that many people strive for and hope to reach. In fact, an essay written by Brandon King, The American Dream: Dead, Alive or on Hold? He says, “the American dream is a dream in which life should be better and richer and fuller for everyone, with the opportunity for each according to his/her ability and achievement…” (King 610-611). Therefore, the problem with the American Dream lies not within the dream itself, but within the means people pursue to attain this dream.

Capitalism has been the central force behind the growth of the United States’ progressive economy. Within such advanced economic system the chances of economic disparity are significantly high. In fact, over the past three decades there has being a steady increase in unequal wealth distribution among the economic classes. To sustain the current unequal wealth distribution among the classes of the American population, there are numerous factors that influence and shape this trend. For some members of the population it is alarmingly disturbing to know that recent statistics have shown that, “In the US [alone] the wealthiest 1% of its population owns more than the bottom 95 %” (Gutman). As for the difference in economic wealth, it resulted

The film Inequality for All really opened my eyes to a huge and growing problem in the United States, and that is inequality. Our country functions best when it has a healthy and growing middle class. That hasn't been the case for the middle class in over 20 years. The problem that we have is that the rich keep getting richer and the middle class wages stay the same, and sometimes even get lower, causing the inequality percentage to rise. The movie stated that in 1978 the average male worker made $48,302 and the average top 1% made $393,682, and in 2010 that same male worker makes $33,751 and top 1% now makes more than 1 million dollars on average. The richest 400 people in the united states have more money than over half the population combined.

The United States of America is the most powerful and wealthy country in the world. The varieties of class, individuality, religion, and race are a few of the enrichments within the "melting pot" of our society. The blend of these numerous diversities is the crucial ingredient to our modern nation. Even though America has been formed upon these diversities, its inhabitants- the "average American"- have a single thing in common; a single idea; a single goal; the American Dream. The Dream consists of a seemingly simple concept; success. Americans dream of a successful marriage, family, successful job, and own a Victorian-style home with a white picket fence and an oak tree with a swing tire in the front yard. The

Every American dreams of finding a job that pays well enough so that they may comfortably take care of their loved ones and themselves for years to come. Most Americans hope to find some way to make a living that they enjoy, something that they view as productive. Unfortunately, many do not have this luxury. In our society, a good portion of the population is forced to hold the base of our country in place while hardly being redeemed for their time and effort, and thus the problem of income inequality. Numbers of these people live from paycheck to paycheck, barely getting by, not because they manage their money poorly, but because the value of their time at work is negligible.

Economic fairness is equal distribution of wealth in an economy. Recently in politics, the Democratic Party has been stressing the need for America to raise taxes on the upper-class in order to help out the middle and lower-classes and preserve our economic fairness. In 2011, it was reported that about 25% of millionaires in the United States were paying lower tax rates than many middle-class Americans. It’s undeniable that (in the U.S.) the rich are getting richer, and the poor are getting poorer. The middle-class is disappearing and falling into either the upper or lower-class. Today, 17% of Americans have zero or negative net worth. This means that their assets are either equal to their debts or they’re less than their debts. If there was more priority of economic fairness over development, these things wouldn’t be a problem.

There are many inequalities prevalent in the US, and as a capitalist society, one of the most common is economic inequality. The Equality Trust defines economic inequality, as the gap between the well off and less well of in regards to overall economic distribution (“How Is”). See, our capitalist society strongly benefits those with a capitalist mentality and can afford the means to invest/own capital. Over the years there has been an increasing wealth gap between the top one percent earners and the general population. So why are the rich flourishing while the poor are struggling in this capitalist environment? The policy decisions of our country allow this inequality to permeate throughout our industries, thus creating a culture of power and greed. One result of this culture is the explosion of high salaries in the US and Emmanuel Saez explains this trend in Striking it Richer. Saez affirms, “Indeed, estimates based purely on wages and salaries show that the share of total wage and salaries earned by the top 1 percent wage income earners has jumped from 5.1 percent in 1970 to 12.0 percent in 2006” (Grusky 89). Too bad that the 99 percent of America missed out on this massive economic growth spurt. When economic growth is not evenly distributed among the general population, people tend to question our entire system. This has been an increasingly controversial issue, where corporate America is responsible for the constant exploitation of low-level employees. Through my