Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Sunset for the American Dream

Sunset for the American Dream PurposeThe purpose of this paper is to present and explore the deleterious socioeconomic consequence of six interrelated trends upon the sustainability of the personal portion of America’s social contract.Design/methodology/approachNeoclassical economic growth theory is used to frame the discussion of the trends in significant variables. This paper is a general review and draws on widely available data and academic insights of scholars.FindingsThis detailed examination leads to rejection of ergodicity and concludes that the existing social contract is unrealizable and unsustainable in present form for all but a shrinking minority of citizens.Research limitations/implicationsThe conclusion is robust but tentative since the trends reviewed are not fixed and may deviate from existing trend lines given undetermined government policies and unforeseeable technological developments.Originality/valueThe paper examines the origins and implications of six adverse systemic trends, highlighting the fact that existing policy prescriptions lack understanding of – and/or scale to comprehensively address – a growing existential threat to the Liberal Tradition’s entrenched social contract. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Social Economics Emerald Publishing

Sunset for the American Dream

Loading next page...
 
/lp/emerald-publishing/sunset-for-the-american-dream-kuf0YPxX0q
Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0306-8293
DOI
10.1108/IJSE-02-2016-0059
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to present and explore the deleterious socioeconomic consequence of six interrelated trends upon the sustainability of the personal portion of America’s social contract.Design/methodology/approachNeoclassical economic growth theory is used to frame the discussion of the trends in significant variables. This paper is a general review and draws on widely available data and academic insights of scholars.FindingsThis detailed examination leads to rejection of ergodicity and concludes that the existing social contract is unrealizable and unsustainable in present form for all but a shrinking minority of citizens.Research limitations/implicationsThe conclusion is robust but tentative since the trends reviewed are not fixed and may deviate from existing trend lines given undetermined government policies and unforeseeable technological developments.Originality/valueThe paper examines the origins and implications of six adverse systemic trends, highlighting the fact that existing policy prescriptions lack understanding of – and/or scale to comprehensively address – a growing existential threat to the Liberal Tradition’s entrenched social contract.

Journal

International Journal of Social EconomicsEmerald Publishing

Published: Dec 4, 2017

There are no references for this article.