[Applause] [Music] the American dream is a national ethos of the United States the set of ideals democracy rights Liberty opportunity and equality in which Freedom includes the opportunity for prosperity and success as well as an upward social Mobility for the family and children achieved through hard work in a society with few barriers the term American dream was coined by James trusso Adams in 1931 but the concept has roots that Trace back to the very founding of the United [Music] States early foundations 17th to 18th century the earliest settlers arrived in North America with the hope of escaping religious persecution and finding new opportunities the promise of land and the possibility of a better life were powerful moment motivators the Puritans for example sought to create a city upon a hill a model Society based on their religious beliefs the Declaration of Independence in 1776 encapsulated the ideals of the American dream Thomas Jefferson's assertion that all men are created equal and have the right to life liberty in the pursuit of happiness became foundational principles these ideals suggested that individuals could shape their own Destinies through hard work and deter termination 19th century expansion in industrialization the 19th century saw the expansion of the American dream through territorial growth and industrialization the Louisiana Purchase the Oregon Trail and the California Gold Rush were all driven by the promise of land and wealth the Homestead Act of 1862 allowed many Americans to own land which was a key component of the dream the Industrial Revolution brought about sign significant economic changes the rise of factories and urbanization created new opportunities for employment and Entrepreneurship figures like Andrew Carnegie and John de Rockefeller became symbols of the self-made man embodying the idea that anyone could rise from humble beginnings to achieve great success early 20th century the American dream and popular culture the term American dream was popularized by James trusso Adams in his 1931 book The Epic of America Adams described it as that dream of a land in which life should be better and richer and Fuller for everyone with opportunity for each according to Ability or achievement the early 20th century also saw the rise of consumer culture which became intertwined with the American dream the availability of credit and mass production made it possible for more people to own homes cars and other symbols of success the idea of owning a home in the suburbs with a white picket fence became a quintessential image of the American dream mid 20th century post-war Prosperity the postor War I era is often considered the Golden Age of the American dream the gy bill provided educational and housing benefits to Veterans enabling many to attend college and buy homes the economy boomed and the middle class expanded Suburban developments like levitown became symbols of this new Prosperity the civil rights movement of the 1950s and 1960s sought to extend the promises of the American dream to all Americans regardless of race leaders like Martin Luther King Jr spoke of a dream where people would be judged by the content of their character rather than the color of their skin late 20th century to present challenges and reinterpretations the latter part of the 20th century saw challenges to the American dream economic recessions the decline of manufacturing jobs and Rising income inequality led many to question the attainability of the dream the 2008 financial crisis and the subsequent Great Recession further eroded confidence in the idea that hard work alone could guarantee success in recent years the American dream has been reinterpreted to include a broader range of aspirations including access to Education Health Care and a sustainable environment the dream is now seen as more inclusive encompassing the diverse experiences of immigrants women and minorities the American dream has evolved over time reflecting changes in society economy and culture while its core ideals of Freedom opportunity and prosperity Remain the ways in which these ideals are understood and pursued continue to change the American dream remains a powerful and enduring concept embodying the hopes and aspirations of Millions [Music]