The term “American dream” was coined by author James Truslow Adams in his 1931 book, The Epic of America. He wrote: “It is not a dream of motor cars and high wages merely, but a dream of 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.”
Reading that, it’s clear that the modern interpretation has strayed far from the original meaning. In fact, the “American Dream” represents something more than the cars and big money that Adams warned about. Central planners and social engineers misappropriated the term a long time ago, and put it into use as a slogan to convey a sense of entitlement and equality as they began to shape and subsidize the home ownership nation that first got started with the creation of Fannie Mae in 1938.
What happened to the concept of the American Dream? Karen De Coster weighs in.
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