Chasing The American Dream

The United States has been epitomized as a land of opportunity, where hard work and skill can bring personal success and economic well-being. The American Dream has captured the imagination of people from all walks of life, and to many, it represents the heart and soul of the country. But there is another, darker side to the bargain that America strikes with its people -- it is the price we pay for our individual pursuit of the American Dream. That price can be found in the economic hardship present in the lives of millions of Americans. In Chasing the American Dream, leading social scientists Mark Robert Rank, Thomas A. Hirschl, and Kirk A. Foster provide a new and innovative look into a curious dynamic -- the tension between the promise of economic opportunities and rewards and the amount of turmoil that Americans encounter in their quest for those rewards. The authors explore questions such as: -What percentage of Americans achieve affluence, and how much income mobility do we actually have? -Are most Americans able to own a home, and at what age? -How is it that nearly 80 percent of us will experience significant economic insecurity at some point between ages 25 and 60? -How can access to the American Dream be increased? Combining personal interviews with dozens of Americans and a longitudinal study covering 40 years of income data, the authors tell the story of the American Dream and reveal a number of surprises. The risk of economic vulnerability has increased substantially over the past four decades, and the American Dream is becoming harder to reach and harder to keep. Yet for most Americans, the Dream lies not in wealth, but in economic security, pursuing one's passions, and looking toward the future. Chasing the American Dream provides us with a new understanding into the dynamics that shape our fortunes and a deeper insight into the importance of the American Dream for the future of the country.

In this book the authors show that the risk of economic vulnerability has been increasing substantially over the past four decades, and argue that while not unattainable, the American Dream - as we currently define it - is becoming harder to reach and harder still to keep.

The United States has been epitomized as a land of opportunity, where hard work and skill can bring personal success and economic well-being. The American Dream has captured the imagination of people from all walks of life, and to many, it represents the heart and soul of the country. But there is another, darker side to the bargain that America strikes with its people -- it is the price we pay for our individual pursuit of the American Dream. That price can be found in the economic hardship present in the lives of millions of Americans. In Chasing the American Dream, leading social scientists Mark Robert Rank, Thomas A. Hirschl, and Kirk A. Foster provide a new and innovative look into a curious dynamic -- the tension between the promise of economic opportunities and rewards and the amount of turmoil that Americans encounter in their quest for those rewards. The authors explore questions such as: -What percentage of Americans achieve affluence, and how much income mobility do we actually have? -Are most Americans able to own a home, and at what age? -How is it that nearly 80 percent of us will experience significant economic insecurity at some point between ages 25 and 60? -How can access to the American Dream be increased? Combining personal interviews with dozens of Americans and a longitudinal study covering 40 years of income data, the authors tell the story of the American Dream and reveal a number of surprises. The risk of economic vulnerability has increased substantially over the past four decades, and the American Dream is becoming harder to reach and harder to keep. Yet for most Americans, the Dream lies not in wealth, but in economic security, pursuing one's passions, and looking toward the future. Chasing the American Dream provides us with a new understanding into the dynamics that shape our fortunes and a deeper insight into the importance of the American Dream for the future of the country.

Few studies have highlighted the stories of middle-class children of immigrants who move to their ancestral homelands—countries with which they share cultural ties but haven’t necessarily had direct contact. Chasing the American Dream in China addresses this gap by examining the lives of highly educated American-born Chinese (ABC) professionals who “return” to the People’s Republic of China to build their careers. Analyzing the motivations and experiences of these individuals deepens our knowledge about transnationalism among the second-generation as they grapple with complex issues of identity and societal belonging in the ethnic homeland. This book demonstrates how these professional migrants maneuver between countries and cultures to further their careers and maximize opportunities in the rapidly changing global economy. When used strategically, the versatile nature of their ethnic identities positions them as indispensable bridges between the global superpowers of China and the United States in their competition for global dominance.

Providing decent, safe, and affordable housing to low- and moderate-income families has been an important public policy goal for more than a century. In recent years there has been a clear shift of emphasis among policymakers from a focus on providing affordable rental units to providing affordable homeownership opportunities. Due in part to programs introduced by the Clinton and Bush administrations, the nation's homeownership rate is currently at an all-time high. Does a house become a home only when it comes with a deed attached? Is participation in the real-estate market a precondition to engaged citizenship or wealth creation? The real estate industry's marketing efforts and government policy initiatives might lead one to believe so. The shift in emphasis from rental subsidies to affordable homeownership opportunities has been justified in many ways. Claims for the benefits of homeownership have been largely accepted without close scrutiny. But is homeownership always beneficial for low-income Americans, or are its benefits undermined by the difficulties caused by unfavorable mortgage terms and by the poor condition or location of the homes bought? Chasing the American Dream provides a critical assessment of affordable homeownership policies and goals. Its contributors represent a variety of disciplinary perspectives and offer a thorough understanding of the economic, social, political, architectural, and cultural effects of homeownership programs, as well as their history. The editors draw together the assessments included in this book to prescribe a plan of action that lays out what must be done to make homeownership policy both effective and equitable.

Some of the greatest figures in American sports were Polish Americans, including Stan Ketchel, two-time middleweight boxing champion; Stella Walsh, a Polish-born Olympic sprinter; and Stan 'The Man' Musial, one of baseballs all-time greats who played in 24 All-Star games and set numerous major league records. Chasing the American Dream examines the impact of sports upon the lives of Polish-Americans, the unprecedented economic and social opportunities it created, and the enormous changes it brought about to Polonia.

Recounts the adventures of an American entrepreneur in Siberia, where he and Russian partner built a multi-million dollar company, and offers insightsnto the life in Novosibirsk.

In his 1958 "kitchen debate" with Nikita Khrushchev, Richard Nixon argued that the freedom to consume defined the American way of life. High wages, full employment, new technologies, and a rapid growth in population known as the "Baby Boom" ushered in a golden age of economic growth. By the end of the twentieth century, consumerism triumphed over communism, socialism, and all other isms seeking to win hearts and minds around the world. Advertising, popular culture, and mass media persuaded Americans that shopping was both spiritually fulfilling and a patriotic virtue. Mark Lytle argues that Nixon's view of consumer democracy contained fatal flaws -- if unregulated, it would wholly ignore the creativedestruction that, in destroying jobs, erodes the capacity to consume. The All-Consuming Nation also examines how planners failed to take into account the environmental costs, as early warning signs--whether smog over Los Angeles, the overuse of toxic chemicals such as DDT, or the Cuyahoga River in flames--provided evidence that all was not well. Environmentalists from Aldo Leopold, Rachel Carson and Paul Ehrlich to Ralph Nader and Al Gore cautioned that modern consumerism imposed unsustainable costs on the natural world. Not for lack of warning, climate change became the defining issue of the twenty-first century. The All-Consuming Nation investigates the environmental and sociocultural costs of the consumer capitalism framework set in place in the 20th century, shedding light on the consequences of a national identity forged through mass consumption.