Chase the American Dream in 2023

 For most Americans, the new year is a time to come together as families and communities.

According to a recent survey conducted by The Harris Poll and the Archbridge Institute’s Human Flourishing Lab, nine out of 10 conservatives and liberals agree the holiday season is a time to be thankful and disconnect from the negativity that surrounds them. In addition, Americans view the winter holidays as a time to focus on social connections and the things that make life meaningful. 

The American Dream should inspire similar feelings of optimism, hope, and nostalgia, as it too has the power to bring people across the political spectrum together. I say nostalgia because many people declared the death of the American Dream in recent years. But is that what the data show? What do Americans think about the state and health of the American Dream?

People across the United States share a positive and hopeful narrative about the American Dream. In 2022, most Americans said they either have achieved or are on their way to achieving the American Dream. Only a small minority, 18%, said it is out of reach. Notably, this trend was consistent across age groups, race, education, and income. Similarly, the vast majority of Americans think they have the same or more opportunities than their parents, and that their kids will have the same or more opportunities than them. Together, these findings point to a universal hopefulness around the American Dream. 

Across the board, Americans of diverse backgrounds and values believe the American Dream and the land of opportunity are alive and well. But what exactly is the American Dream? James Truslow Adams provides this definition in his book The Epic of America:

That dream of a land in which life should be better and richer and fuller for every man and woman, with opportunity for each according to his ability or achievement…It is not a dream of motor cars and high wages merely, but a dream of a social order in which each man and each woman shall be able to attain to the fullest stature of which they are innately capable, and be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position.

As Truslow’s definition shows, the American Dream is about aspiration. It focuses on the pursuit of opportunities rather than outcomes. It is about building new and better institutions, path-breaking innovations, opportunity-laden enterprises, and chasing fulfillment beyond material goals for you and the next generation. 

Interestingly, and in line with Truslow’s definition, more than 80% of Americans list freedom of choice in how to live and having a good family life as essential to living the American Dream. Issues such as owning a home and having a successful career ranked in the middle, while becoming wealthy was the lowest concern. 

So, why do people continue to proclaim the death of the American Dream? Economists have defined the American Dream as being upwardly mobile, or in a technical sense, out-earning your parents at the same age. And by this definition, research by Harvard’s Opportunity Insights has found the health of the American Dream is fading. However, researchers have yet to uncover the root causes of stagnating mobility, and a recent study has called these results into question. Moreover, this narrow definition leaves little room for the holistic vision shared by Adams and the American public.

As a Hispanic-American immigrant living my own American dream, I believe it is important to preserve the American Dream as a hopeful, aspirational, redemptive, and unifying narrative. It has been a motivating factor for many immigrants, from Latin America and around the world, most of whom are American Dream voters. It fills us with hope, unites us in our diversity, and reduces polarization by encouraging us to adopt positive-sum thinking. 

As we celebrate the new year, I encourage you to join me in being thankful for the American Dream – wherever you are in your journey. Take the time to think about your American Dream. How can you live a better, richer, and fuller life?

Go a step further and ask your friends and family, “What is your American Dream?” By chasing your own dream or helping others achieve theirs, you can keep the ideals of the American Dream alive at dinner tables across the country.

Gonzalo Schwarz serves as president and CEO of the Archbridge Institute in Washington, D.C.

https://www.realclearpolitics.com/articles/2022/12/31/chase_the_american_dream_in_2023_148672.html