- February 16th, 2024, 10:21 am
#456078
This topic is about the February 2024 Philosophy Book of the Month, Beyond the Golden Door: Seeing the American Dream Through an Immigrant's Eyes by Ali Master
In recent years, the dialogue surrounding the American Dream has taken a new turn, with discussions increasingly focusing on the United States' shift towards, or perhaps its current state of, oligarchic capitalism. This shift, as highlighted by a Congressional Budget Office study, reveals a stark increase in wealth concentration among the top echelons of society, with the top 10% of families seeing their share of total wealth rise from 63% in 1989 to 72% in 2019. Even more telling, the share held by the top 1% increased from 27% to 34% over the same period. In contrast, the wealth share of families in the bottom half of the distribution halved from 4% to 2%.
CapitalismOctopus.jpg (378.71 KiB) Viewed 2851 times
This reality paints a troubling picture for the American Dream, traditionally symbolizing the ideals of freedom, opportunity, and prosperity through hard work and determination. As wealth becomes increasingly concentrated, the structural barriers to achieving this dream seem to grow taller for the common people and the middle class.
This phenomenon is not just a financial issue but a deeply philosophical and psychological one, touching on fundamental questions about equality, fairness, and the true nature of freedom and opportunity in America. The stark disparities in wealth distribution raise profound moral concerns about the kind of society we live in and the values it upholds. Bernie Sanders, echoing these concerns, argues that "the obscene level of income and wealth inequality in America is a profoundly moral issue" that cannot be ignored. His call for a government and economy that work for all, not just the 1%, underscores the urgent need for systemic change.
Given this backdrop do you agree that the United States is moving towards, or has already become, an oligarchy, where a small number of wealthy individuals hold disproportionate power and influence? How do you view the impact of oligarchic capitalism on the American Dream? Do you believe the dream is still attainable in today's socio-economic climate, or has it become an outdated ideal?
In recent years, the dialogue surrounding the American Dream has taken a new turn, with discussions increasingly focusing on the United States' shift towards, or perhaps its current state of, oligarchic capitalism. This shift, as highlighted by a Congressional Budget Office study, reveals a stark increase in wealth concentration among the top echelons of society, with the top 10% of families seeing their share of total wealth rise from 63% in 1989 to 72% in 2019. Even more telling, the share held by the top 1% increased from 27% to 34% over the same period. In contrast, the wealth share of families in the bottom half of the distribution halved from 4% to 2%.
This reality paints a troubling picture for the American Dream, traditionally symbolizing the ideals of freedom, opportunity, and prosperity through hard work and determination. As wealth becomes increasingly concentrated, the structural barriers to achieving this dream seem to grow taller for the common people and the middle class.
This phenomenon is not just a financial issue but a deeply philosophical and psychological one, touching on fundamental questions about equality, fairness, and the true nature of freedom and opportunity in America. The stark disparities in wealth distribution raise profound moral concerns about the kind of society we live in and the values it upholds. Bernie Sanders, echoing these concerns, argues that "the obscene level of income and wealth inequality in America is a profoundly moral issue" that cannot be ignored. His call for a government and economy that work for all, not just the 1%, underscores the urgent need for systemic change.
Given this backdrop do you agree that the United States is moving towards, or has already become, an oligarchy, where a small number of wealthy individuals hold disproportionate power and influence? How do you view the impact of oligarchic capitalism on the American Dream? Do you believe the dream is still attainable in today's socio-economic climate, or has it become an outdated ideal?
“There is only one thing a philosopher can be relied upon to do, and that is to contradict other philosophers”
– William James
– William James
- By Sy Borg
- By thrasymachus