The American Dream formed in the late 19th century as the idea that through hard work and determination, immigrants and their descendants could attain prosperity and live happily. This vision drove economic and social expectations throughout the 20th century. However, beginning in the 1970s, events like the Vietnam War, unemployment, and rising inequality undermined belief in unlimited opportunity and caused many to question whether the American Dream was still attainable. Today, with political and economic uncertainties, the idea that one can easily achieve fortune through hard work no longer resonates as a unifying vision for many Americans.

1. Why Don’t People Believe in the American Dream
This happy vision of perfect life has been one of the most influential ideas that have
shaped the American culture, based on immigrants’ ancestry and gaining prosperity
through hard work.
The American dream has formed as a cultural construct by the end of the 19th century
when industrial development and rapid growth of cities created a new psychology of the
working class. A young man, honest and hardworking, ought to be able to reach content
and wealth near the end of his life, surrounded by a happy family and live in his own big
house in a free and prosperous country.
Such expectations has been dominant throughout the next century as well, getting
strongly supported by economic development and opportunities of 1920s and America’s
triumph after 1945. The exact phrase was first popularized in 1931. However, beginning
from the 70s, with disappointment from the Vietnam war, unemployment, and rise of
income inequality, critical references to the American dream began to appear more
often.
Today the idea of earning a fortune in the land of unlimited freedom seems to have a
substantial crisis. Political turmoil at home together with economic, social and
ecological uncertainties ​do not strengthen the Americans’ belief into those simple values
of the old times. Apparently, for a great deal of the United States’ population, the
American dream cannot be a unifying idea in the post-industrial era, and more relevant
nationwide goals answering people’s dreams and lives are needed to replace it.