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Few ideas are as central to a nation’s identity as the American Dream.
As the United States approaches its 250th birthday in July 2026, it’s worth going back to examine a concept central to the nation’s self-image.
The term “American Dream” was actually coined in the 1930s by historian James Truslow Adams. Since the founding of the Colonies, however, America has been viewed as the land where individual and collective hopes and aspirations can be realized.
From the idea of America as a shining “city on the hill” of the Declaration of Independence guaranteeing the “life, liberty, and the pursuit of happiness“The nation was founded on high aspirations. The concept of the American Dream reflects these hopes, and it continues to exist throughout our cultural landscape.
As a social scientistI started to check what Americans think about the American Dream in today’s society. I interviewed many people, from an old man sleeping on the street to a billionaire businessman.
I want to know how they define the American Dream – and whether it’s becoming more difficult to achieve now than ever.
Dream definition
from pickup trucks and lawn tractor ads labeling undocumented immigrant children as Dreamersreferences to the American Dream in contemporary life are ubiquitous. Washington, DC, is now home to a new, US$500 million museumthe Milken Center for Advancing the American Dream, is dedicated to celebrating the idea and its history.
It turns out that for most of the people I interviewed, the American Dream consisted of three basic ideas.
The first is what can be called an economic bargain: If you work and play by the rules, you should expect to have a financially secure life. This includes owning a home, being able to raise children and retire comfortably.
Second, the American Dream is centered on hope and optimism. It’s about personal growth and the belief that the country’s best days lie ahead. It’s the idea that each generation should do better than the previous one, and that upward economic mobility is essential for doing so.
The third and final idea that people expressed was having the freedom to pursue their hopes to reach their full potential. For many, it is the epitome of the American Dream.
At its best, the US is seen as allowing individuals the freedom to live the lives they want. Liberty and fierce individualism landmarks of America since its inception, so it is no surprise that they are also central to the American Dream.
More elusive to the economy?
Because of this, has the American Dream become more or less difficult to achieve over time? Unfortunately, for a growing number of Americans, this is proving to be more difficult.
First, the goal of living economically secure in return for hard work has become more elusive. Data from the Census Bureau shows that the median wage for full-time male workers has essentially flatlined since 1973. The economy is producing more low wages and part-time work. Many of these lack benefits, such as health insurance.
Less skilled workers, such as truck drivers and postal clerks, have real lost land in terms of income. At the same time, housing, medical care, child care and higher education costs have dramatically increased in the last 40 years.
What about upward mobility and the hope for each generation to do better economically than the previous generation? there some evidence that one reason the middle class is shrinking is that more people enter the high income level.
still, young generation adults actually earn, on average, less than their parents. This is the first time in US history that this has been the case. The once taken-for-granted notion of generational progress and progress seems to have stalled.
Upward economic mobility for low-income workers also exists has slowed over the past 50 yearswhich makes it difficult to climb the ladder of opportunity.
Not satisfied, not dreaming
Finally, what about personal freedom? Survey data shows that more Americans feel they have less control over their lives and futures than ever before.
For over 20 years, Gallup asked, “In this country, are you satisfied or dissatisfied with your freedom to choose what to do with your life?” The percentage of Americans who report being satisfied has fallen significantly over the past two decades. In 2007 it was 87%, but in 2024 it fell to 72%. For women, the number is even lower, falling from 85% in 2007 to 66% in 2024.
In comparison, the average for the richest countries in the Gallup survey is 86%. Consequently, on all three counts it appears that the American Dream has become more difficult to achieve.
A wishful hope
These trends are important to understand polarization and overall negative seen in America today. Too many Americans feel that they have been left behind and that the American Dream has become a distant reality.
For these Americans, the words of the late comedian and social commentator George Carlin true ring: “It’s called the American Dream because you have to sleep to believe it.”
Yet the American Dream is a powerful metaphor and aspiration that continues to inspire many in this country. Among those I interviewed, there was a strong consensus that it represented the best of what America had to offer.
No other country has the equivalent of the American Dream. As the country enters its next 250 years, working toward rebuilding the concept as a reality for the millions of people who have fallen may be essential to maintaining the essence of the American promise.
Mark Robert RankProfessor of Social Welfare, Washington University in St. Louis
This article was reprinted from The Conversation under Creative Commons license. Read the original article.
This story was originally featured on Fortune.com
