A decent portion of our more recent texts have introduced and discussed the idea of materialism in the American Dream – specifically, Lupsha’s “Suckers and Wiseguys” and Churchwell’s “Behold, America”. Lupsha explains how material wealth became the goal of hard-working “suckers” and criminally-inclined “wiseguys” alike, both seeking the same goal by different means. Churchwell discusses the complications of combining financial success and equal opportunity in the American dream, notably with the idea of monopolistic capitalism. With the idea of a material American Dream in mind, I have a news article that came to me recently that I would like to discuss.
Presented to us by Bethan Moorcraft of MoneyWise, as of the end of 2023, the “American Dream” now costs about $3.4 million, split between home ownership, family milestones, and retirement plans. With the ever-looming threat of inflation and the lack of pay raises to keep up, the materialistic idea of the American dream is starting to elude the people of America themselves. Depending on the way the economy moves from here on out, we may see another shift in the American dream, this time away from the financial ideals of the past few centuries.
It’s interesting how our developing economy here in the US has drastically impacted the generalized American dream. Back in the late 1700’s when we had just founded the country, we had no economy, no material goal save for the basic needs to live, and both the Declaration of Independence and the Constitution reflect that. Years later, with a well-established financial system and factory labor well-integrated into our lives, we had the freedom to attain more than necessary. Lupsha told us how well-known criminals found their way to financial success, carefully dominating the criminal world with their influence and wealth. Churchwell told us about monopolies existing as both the American dream itself and the enemy to said dream. And now we’re here, at a point where the money most Americans make is not enough to cover the common goal.
While I don’t think the American dream – or what it is assumed to be – will change permanently, it seems like the people of America might have to strive for less. More than enough to survive, sure, but less than our ideals.
Source: [Yahoo Finance]
Cover image by Corey Coyle, CC BY 3.0 https://creativecommons.org/licenses/by/3.0, via Wikimedia Commons