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The Next Big Idea Daily
"Ours Was the Shining Future: The Story of the American Dream" by David Leonhardt
Jan 10, 2024
09:46
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David Leonhardt, Pulitzer Prize-winning journalist and author of "Ours Was the Shining Future", joins to discuss the decline of the American Dream and growing inequality. He also emphasizes the importance of investment and advocates for a system of democratic capitalism.
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Quick takeaways
- The American Dream of ever-rising living standards has become elusive for most Americans, with slow income and net worth growth, increasing racial inequities, and a power shift favoring well-off college graduates and professionals.
- The decline in investment in areas like education, scientific research, technology, and transportation has led to longer travel times and decreased societal sophistication, emphasizing the need for a shift towards democratic capitalism to rebuild a stronger economy.
Deep dives
Decline in American Dream and Living Standards
The American Dream of ever-rising living standards has become elusive for most Americans. Incomes and net worth have grown slowly, and the typical household is worse off than it was at the beginning of the 21st century. Economic growth has not translated into consistently improving living standards for working-class families, leading to dissatisfaction. Racial inequities have also increased, and the power dynamic in politics has shifted to favor well-off college graduates and professionals. The book 'Hours was the Shining Future, The Story of the American Dream' by David Leonhardt explores these issues and the decline of the American Dream.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode