This is a very complex and in simple terms no the “American Dream” is still alive. However, the United States and Europe are undergoing deep and lasting changes.
The world is a different place with emerging markets like the ‘Bric’ countries as they have come to be known. The ‘Bric’ countries include India, China and Brazil. India and China for example will outperform the United States and the European Union and may very well in the fullness of time become the new super states knocking the United States off of it super power pedestal.
This is a natural progression as once the United Kingdom was a world super power and there was Russia of course. Whoever eventually takes the top position on the world stage will too eventually topple too.
It is worth noting at this point the United States will always remain a very wealthy country with huge natural resources. However, America has to find a new way in the world and re-examine its commercial base. The west has taken a tumble in recent times with the ‘Credit Crunch’ and later recessions and high unemployment.
This has brought with it new problems as the populace are beginning to wake up and realise the ordinary man’s life destiny is being controlled by a tiny minority which enjoy fabulous wealth beyond the imagination of many. In Victorian times people could easily be exploited because they hadn’t the education or clout to want to change things.
This is no longer true and the West need to realise if the older established economic powers like the United States, United Kingdom and Europe are to survive and prosper into the future, then they need to examine the political system and pave a more equitable base for it citizens.
We are not talking communism, but a fairer base where we can all enjoy a reasonable standard of living and scale down the hideously high salaries of the few which instead of promoting entrepreneurship and enterprise stifle incentive for the many. We also need to look at the markets that now intrude profoundly on ordinary people’s lives. We also need to examine the effects of globalization which again funnels fabulous wealth to one percent of the world’s population. Globalisation also stifles new enterprise due to the monopolizing grip these companies have. The handfuls of globalized companies are so powerful they can dictate to smaller countries and change political policies which fly in the face of democracy.
Yes the “American Dream” will live on if we stop to examine why the West is now failing and do something to make life more equity for the many in our society.