Materialism In America

During the Great Depression, James Adams coined the phrase, “American Dream” and explained “that 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 circumstances of birth” (King, 610). For a lot of people, the “American Dream” is connected to becoming wealthy and the ability to achieve everything if one only works hard enough from it (Rag to Riches). For others, it is much more than materialism; it is simply the dream of living a simple, happy and fulfilling life that include faith and equality. The American Dream is also about liberty and America being the country of unlimited opportunities. With the economic powerhouse
the United States is and the immense amount of opportunities available; Immigrants turn to America to make it their home and find their personal success. But is America truly the place of success for immigrants? With millions of Americans out of work, our trade deficit running about $44 billion per month and speculation of India and China outpacing the U.S, what makes America the land of success? Although America has its downsides, our national economy is bigger than Russia, Brazil, Britain, France and Italy combined and 25% of U.S engineering and tech companies had one or more immigrant key founders that created $52 billion in sales and created 450,000 jobs in 2005. Ultimately, Immigrants turn to America in search of the “American Dream”, but is America truly the right choice?

Brandon King, a law student at the University of Indiana who majored in Political Science at the University of Cincinnati analyzed the true current state of the “American Dream”.
During Pre and Post Great Depression, America suffered the loss of trillions of dollars in the stock market, the highest rates of unemployment in recent years and the issue of inequality have negated the image of America being the land of opportunities. Bailouts from large corporations and stimulus packages have been issued to hopefully recuperate America’s current fragile economy. As America continues with its weak national real estate markets, gradual recovery of liquid assets and lethargic job growth immigrants should double think the idea of America being the land of opportunity and success. Apart from America’s recuperating economy, we face the issue at hand of Inequality. Paul Krugman, an economist stated that “The lion’s share (significant portion) of economic growth in America over the past thirsty years has gone to a small, wealthy minority,” and that “the lack of clear economic progress for lower and middle income families is in itself an important reason to seek a more equal distribution of income” (King, 612). In a sense, Krugman stated that in order for us (lower and middle classes) to grow we need to distribute income more equally as opposed to having a 1% class facing the other
99%. As a Congressman serving the Democratic party and a U.S.
Ambassador, Tim Roemer analyzed how America continues to be the World’s Beacon for Success (Roemer, 618). While in India, Roemer visited as a U.S. Ambassador and noticed that America is not the only place with economic issues. Markets like India and China are filled with the foreclosing of small businesses and governments filled with corruption. Although we face issues, the United States has the largest and most technologically powerful economy in the world and has a per capita gross domestic product of $47,200. Our United States economy is that equaled of Russia, Britain, France, Brazil and Italy combined (Roemer, 619). U.S. firms owns more than 50% of all firms, which is twice as much as Japan who comes in second (Roemer, 620). With 7 out of the Top 10 universities listed in the Time’s Global Higher Education Ranking are in the United States. Many immigrants come to America in search of opportunity and to live out their own interpretation of the “America Dream’. In 2005, 25% of U.S Tech and Engineering start-ups had one or more key founders whose companies collectively created $52 billion in sales and created 450,000 jobs. Along with immigrant entrepreneurs, America includes a positive demographic growth and environmental protections of water and natural resources (Roemer, 620). An atlas for immigrant entrepreneurs, America continues to support and allow immigrants to live out their interpretations of the “American
Dream”.