It's the Economy, Stupid

Since the end of World War II, most people around the world regarded the United States as the land of opportunity. The baby boomers and Generation X knew it best as the land of milk and honey. It was a place where a person who worked hard could achieve their financial dreams and comfortably raise a family. The American Dream—a dream of a land where life is better, richer, and fuller for everyone—was alive. Yes, indeed!

Much has changed, though, in the past four decades. Most Americans today do not realize that since the early 1990s, when the world markets began to join and globalization took place, America went through a major transformation. Today, the America of yesterday, a place where children grew up to ultimately earn more than their parents, is no longer the reality but, in most cases, wishful thinking.

In today’s globalized world, living in America no longer feels different than living in Europe or Japan. In fact, income levels and employment opportunities now appear to be the same. Are they, though? Do Americans still have the edge, or has the American Dream finally slipped away? Is it possible to conceive that Americans today could be disadvantaged when compared with those living in other countries? While most people live their everyday lives never knowing, one thing is clear. Recently, political catchphrases such as “Make America Great Again” resonated deeply among frustrated Americans on both sides of the political divide, much deeper than election pollsters and the media anticipated during the 2016 presidential election. Undoubtedly, anxiety about the future is in the air, but what causes it? Can the past be restored? One thing is certain. Americans cannot afford to remain complacent with the status quo.