The American Dream is a national ethos of the United States, the set of ideals (democracy, rights, liberty, opportunity and equality) in which freedom includes the opportunity for prosperity and success, as well as upward social mobility for the family and children, achieved through hard work in a society with few barriers.
The term “American Dream” was coined by James Truslow Adams in 1931, saying that “life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement” regardless of social class or circumstances of birth.
The meaning of the “American Dream” has changed over the course of history, and includes both personal components (such as homeownership and upward mobility) and a global vision.
In this video, Ray Dalio gives his opinions about the American dream. He admits that he has mixed feelings about the term.
While he supports the set of ideas such as democracy, rights, liberty, opportunity and equality, he questions Americanism in the term.
Dalio also points out that there are no big differences between the American dream and the Chinese dream.
Source: Finance Jane.
