Have you ever wonder is the American dream still effective today and is it still possible to achieve? The American dream is “the dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability and achievement, regardless of social class or circumstance at birth.” Yet, we know that “The American Dream” has not always been an easy and accessible picture for everyone due to many components such as the perception of the dream, income inequality, and education. There are many economists that have different views on whether or not they believe the American dream still is effective today. In the following paper I plan on discussing the American dream components from various views of
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According, to Krugman he states that many middle class Americas buy houses they can’t afford which puts them in bankrupts to provide a better education for their children. Also, McClelland describes that income inequality is a real problem because the earning income decrease. For example, he quoted “between 1970 and today, the share of the earning two-thirds to double the national median—fell from 62 percent to 45 percent.” (551) This illustrate the wealthy class are taken over which makes the middle class suffer in earning income inequality. But in contrast, both The Pew Research Team and Becker & Murphy believe income inequality is a good thing. For instance, Becker & Murphy says that the income among American has increased. Becker and Murphy say “in the United States, the rise in inequality accompanied a rise in the payoff to education and other skills.” (582) This means that everyone is enhancing their own mobility skills. The Pew Research Team quotes “between 1967 and 2011 the median income of a black household of three rose from about $24,000 to nearly $40,000.” This emphasizes that income inequality isn’t a problem because of the rising
According, to Krugman he states that many middle class Americas buy houses they can’t afford which puts them in bankrupts to provide a better education for their children. Also, McClelland describes that income inequality is a real problem because the earning income decrease. For example, he quoted “between 1970 and today, the share of the earning two-thirds to double the national median—fell from 62 percent to 45 percent.” (551) This illustrate the wealthy class are taken over which makes the middle class suffer in earning income inequality. But in contrast, both The Pew Research Team and Becker & Murphy believe income inequality is a good thing. For instance, Becker & Murphy says that the income among American has increased. Becker and Murphy say “in the United States, the rise in inequality accompanied a rise in the payoff to education and other skills.” (582) This means that everyone is enhancing their own mobility skills. The Pew Research Team quotes “between 1967 and 2011 the median income of a black household of three rose from about $24,000 to nearly $40,000.” This emphasizes that income inequality isn’t a problem because of the rising