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Chasing the American Dream: Understanding What Shapes Our Fortunes

Author

Listed:
  • Rank, Mark Robert

    (School of Social Work; George Warren Brown; St. Louis, MO)

  • Hirschl, with Thomas A.

    (Department of Sociology; Cornell University)

  • Foster, and with Kirk A.

    (College of Social Work; University of South Carolina)

Abstract

The American Dream lies at the heart and soul of the country. In Chasing the American Dream, Mark Robert Rank, Thomas A. Hirschl, and Kirk A. Foster provide a new and innovative look into the well being of the dream in today's society. They combine for the first time interviews with dozens of Americans, along with a longitudinal study covering 40 years of income dynamics for the national population. By weaving these approaches together, they create a vibrant tapestry upon which to tell the story of the American Dream. Their findings reveal a number of surprises. For most Americans, the meaning of the American Dream lies not in wealth and riches, but rather in economic security, pursuing one's passions, and looking forward toward the future. Yet nearly 80 percent of the population will experience significant economic insecurity at some point between the ages of 25 and 60. In addition, the authors show that the risk of economic vulnerability has been increasing substantially over the past four decades. Yet in spite of these trends, Americans remain upbeat about achieving the American Dream at some point during their lifetimes, although many will struggle to do so. The authors provide an innovative approach for thinking about and increasing the accessibility of the American Dream in the future. Chasing the American Dream provides readers with a new understanding into the dynamics that shape our fortunes, and a deeper insight into the centrality and importance of the American Dream for the future of the country.

Suggested Citation

  • Rank, Mark Robert & Hirschl, with Thomas A. & Foster, and with Kirk A., 2014. "Chasing the American Dream: Understanding What Shapes Our Fortunes," OUP Catalogue, Oxford University Press, number 9780195377910.
    • Handle: RePEc:oxp:obooks:9780195377910
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    Cited by:

    1. Thomas A Hirschl & Mark R Rank, 2015. "The Life Course Dynamics of Affluence," PLOS ONE, Public Library of Science, vol. 10(1), pages 1-10, January.
    2. Banerjee, Mahasweta M. & Friedline, Terri & Phipps, Barbara J., 2017. "Financial capability of parents of kindergarteners," Children and Youth Services Review, Elsevier, vol. 81(C), pages 178-187.
    3. Elliott, William & Rauscher, Emily & Nam, Ilsung, 2018. "Unequal returns: Intragenerational asset accumulation differs by net worth in early adulthood," Children and Youth Services Review, Elsevier, vol. 85(C), pages 253-263.
    4. Pamela Walker Laird, 2017. "How business historians can save the world – from the fallacy of self-made success," Business History, Taylor & Francis Journals, vol. 59(8), pages 1201-1217, November.
    5. Jos'e Miguel Flores-Contr'o & S'everine Arnold, 2023. "The Role of Direct Capital Cash Transfers Towards Poverty and Extreme Poverty Alleviation -- An Omega Risk Process," Papers 2401.06141, arXiv.org, revised Feb 2024.
    6. Mark R Rank & Thomas A Hirschl, 2015. "The Likelihood of Experiencing Relative Poverty over the Life Course," PLOS ONE, Public Library of Science, vol. 10(7), pages 1-11, July.

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