Uncommon Courses is an occasional series from The Conversation U.S. highlighting unconventional approaches to teaching.
“Economic Realities of the American Dream”
One of us – Steve Fazzari – was trained as an economist, and the other – Mark Rank – as a sociologist. We’ve shared scholarly interests over the years as colleagues at Washington University in St. Louis. But our teaching partnership really began with a lecture Mark gave about his book “One Nation Underprivileged,” which explores the causes and consequences of poverty and how the reality of poverty conflicts with American values. This talk inspired Steve at a moment in his career when he sought to integrate economic inequality into his teaching.
Our conversations deepened as Mark was researching his next book, “Chasing the American Dream: Understanding What Shapes Our Fortunes.” We realized that both of us could bring something unique to the table about the American Dream, and this was the spark for the class.
A paradox of the American story is the belief that all citizens are entitled to certain rights and opportunities. Yet, in reality, the country fails to achieve this goal. While the American Dream captures these aspirations, our course also considers the dream’s reality.
Each week we trade off leading the class, but we always have a lively exchange drawing on decades of social science teaching and research. Our students, who come from different backgrounds and fields, such as political science and engineering, offer a kaleidoscope of perspectives.
The class begins by exploring the American Dream’s historical and philosophical background. While the course readings present multiple perspectives about what the dream entails, we focus on three principles common to most Americans’ understanding of the dream: the freedom of Americans to pursue their passions to reach their potential; an economic bargain that hard work should lead to an economically secure life; and hope and optimism for better days ahead.
We then focus on the pathways for achieving the American Dream, including economic mobility, equality of opportunity, rising standards of living, and the availability of good jobs.
We next discuss how poverty and economic insecurity, unemployment and underemployment, economic inequality and racial and gender discrimination prevent many Americans from attaining the American Dream. We focus specifically on how changing economic conditions have created greater barriers in recent decades.
In the final section, our focus shifts to policy ideas for putting the dream within reach of more Americans and to explore alternative guiding principles for a successful life.
Students read a wide variety of articles and all or part of several books, including:
“The American Dream vs. the Gospel of Wealth: The Fight for a Productive Middle-Class Economy,” by Norton Garfinkle
“Strangers in Their Own Land: Anger and Mourning on the American Right,” by Arlie Russell Hochschild
“Chasing the American Dream: Understanding What Shapes Our Fortunes,” by Mark Robert Rank, Thomas A. Hirschl and Kirk A. Foster
“Poorly Understood: What America Gets Wrong About Poverty,” by Mark Robert Rank, Lawrence M. Eppard and Heather E. Bullock
“After the Great Recession: The Struggle for Economic Recovery and Growth,” edited by Barry Z. Cynamon, Steven M. Fazzari and Mark Setterfield
The idea of the American Dream is central to American identity. Media figures and politicians from both parties continuously debate about it.
Therefore, it’s important to understand what people mean when they talk about the American Dream, recognize some of the challenges to its reality, and seek ways to make it more accessible and realistic. In our view, the U.S. economy and its institutions should deliver on the promise of a secure and hopeful life for all Americans.
Every student writes a comprehensive essay to describe their own understanding of the meaning and viability of the American Dream. They receive feedback throughout the semester to help sharpen both their arguments and writing style.
The course also lays the foundation for students to appreciate how central and important the concept of the American Dream is to the identity of the country. In that way, they gain greater insight into the dynamics of American society.
For example, Donald Trump’s second presidential victory relates to voters’ frustration with the economic status quo, which we interpret as a failure to achieve the American Dream.
Investigating the meaning and reality of the American Dream offers our students a critical window into modern life in the United States.
This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: Mark Robert Rank, Washington University in St. Louis and Steven Fazzari, Washington University in St. Louis
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The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
