This article was published by The McAlvany Intelligence Advisor on Monday, January 9, 2017:
The term American Dream was coined by James Trustow Adams in 1931, just as the economy was entering the worst of the Great Depression. In The Epic of America, Adams wrote:
[It is] 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….
It is not a dream of motor cars and high wages merely, but a dream of a social order in which each man and each woman shall be able to attain to the fullest stature of which they are innately capable, and be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position.
In 2012, American cultural historian Lawrence Samuel, author of The American Dream: A Cultural History, echoed Adams: