The Great Recession And The American Dream

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The American Dream is a very comprehensive thought, embedded with a various set of ideas. It emphasizes on equal opportunity, liberty, the rule of law and a system that facilitates financial progress. With the time, the concept has slightly evolved and became more political and less religious. The concept of prosperity and success are of extreme importance, and they resonate well with Millennials. These two terms are interconnected political and economic environments strongly influence them. It implies that when political and economic conditions are exceptional (positively), it creates more opportunities for individuals, which allow meeting their objectives, of various sorts and natures that include owning a house (Amadeo, 2017).
Owning a house has been a sort of subcomponent of the American dream. A small but important part of that dream that motivates individuals’ is to strive and invest their energies to meet this objective. It must be acknowledged that in every phase (political-economic-social), there have been different pursuits, on a societal level, which gave direction to economic, political, and social evolution. However, from the systematic study of American history, we learn that prosperity, success, and owning a home have always been part of various interpretations of the American dream.
The Great Recession, which was caused by the subprime mortgage crisis, not only impacted the economic structure, but in many ways, it impacted the collective American psyche,
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