Development of Societal Ills while Chasing The American Dream - Essay Example

The origins of the Development of the American dream can be traced back to WW2. At that time, the economy had been ripped off due to war and the ultimate objective of any American was to secure a steady income along with ownership of the house. This goal led to increased ethical values along with hardworking, honest, and dedicated individuals. The ordinary focus at that time was on the community system where people lived with families and were interconnected with each other. This was the primary source of pride and joy for the people.

The nation prospered and a wholesome value system developed over the period (Geela, 2004). In the 21st Century, the American dream has been commercialized and has become more of a marketing concept. Marketing agencies and politicians have been able to convince people that having a second home, vacationing at least once a month in Europe, and then purchasing expensive jewelry and equipment are necessary to achieve status in society. This led to the development of unethical values in society and destroyed the ongoing prosperity leaving a materialistic aspect in individuals.

These values have been deeply rooted in society and are now becoming a major source of all evils in society. Individuals have started believing that things can bring happiness and prosperity, rather than values. The example of the Christmas holiday fits the best. Christmas has been diverted from family meals towards gifts and shopping. Consumerism is the need of the hour since it leads to increased spending patterns across society, leading to debt perpetuity. The overall concept has changed, and Americans have started believing that the ones with the most wealth and assets live more as compared to the ones who have more happiness.

This has led to borrowing higher amounts of debt than one’s ability to pay back. As a result, most of the Americans defaulted and were not able to pay back which led to the confiscation of their assets and belongings. These people are now depressed, jobless and homeless. This increased debt borrowing also leads to the collapse of the whole financial system. The Subprime mortgage in 2008 was purely based on this explanation. Mortgage brokers distributed the loans under the banner of the American Dream and people with poor creditworthiness borrowed; they were not pay were not paid back and examined byedby the lending institutions.

As a result, they were unable to which had a busting effect on real estate industry and clothing lapse of major financial institutions which trickled down across the globe. The American Dream is more of a materialistic approtowardards achieving success and joy in life rather than a positive approach. Innovation, determination, integrity, community, social and ethical values were the true spirits of American behavior which are now covered in a cloak of fraud, unethical practices, ignoring the family, and promoting consumerism among the people (Luttwak, 2010).

From the downfall of Enron to huge government deficits and escalating inflation, everything is destroyed due to the severity of unethical behavior in government and companies. The educational system has been subjected to degradation and the family system has been broken down.