"Few ideas are as central to the nation's identity as that of the American Dream. With the 250th birthday of the United States coming up in July 2026, it's worth stepping back to examine a concept essential to the nation's self-image. The term "American Dream" was actually coined in the 1930s by historian James Truslow Adams. Ever since the establishment of the Colonies, however, America has been viewed as a land where individual and collective hopes and aspirations can be realized."
"From the idea of America as a shining "city on a hill" to the Declaration of Independence's guarantee of " life, liberty, and the pursuit of happiness," the nation has been premised on high aspirations. The concept of the American Dream has epitomized these hopes, and it continues to be present throughout our cultural landscape. As a social scientist, I set out to explore what Americans thought about the American Dream in today's society."
"It turns out that for most people I interviewed, the American Dream consists of three basic ideas. The first is what might be called an economic bargain: If you work hard and play by the rules, you should expect to have a financially secure life. This includes owning a home, being able to afford raising kids and retiring in comfort."
James Truslow Adams coined the term "American Dream" in the 1930s. America has been portrayed since the Colonies as a land where individual and collective hopes can be realized, from the "city on a hill" ideal to the Declaration's promise of life, liberty, and the pursuit of happiness. References to the American Dream are ubiquitous, including a new US$500 million Milken Center museum. Interviews with people across income extremes—an elderly man sleeping on the street to a billionaire entrepreneur—reveal most Americans see the Dream as three ideas: an economic bargain of security through work, enduring hope and personal progress, and the expectation of opportunity and upward mobility.
Read at Fortune
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