James Truslow Adams, an early 20th century historian, coined the term in the preface of his 1931 book The Epic of America, where he wrote of "That American Dream of a better, richer and happier life for all our citizens of every rank, which is the greatest contribution we have as yet made to the thought and welfare of the world ... That dream or hope has been present from the start."
More than 80 years later, JPMorgan Chase (JPM) has taken a look at the issue in its American Dream 2.0 survey, at a time political and economic tensions are high and as Americans appear anxious about their financial futures.
The study, done in conjunction with financial planning services provider LearnVest, surveyed 1,223 Americans in July.recession has "hindered their ability to get ahead." Money: 33% of Americans say that "becoming rich" is a huge part of the American Dream, while 32% say "material success" is what really counts in life. Easier to win the lottery: 16% of Americans surveyed say that "winning the lottery is easier than achieving the American Dream."
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