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He emphasizes that when he was young there were many kids dropping out of highschool and still being able to get good jobs and more money than their own teachers without a highschool diploma.
In other words, Krugman believes that parents are becoming in debt because of just wanting a better school and future for their children.
People are spending large amounts of money to try to catch up to the rich and the ongoing world of changes in technology just to provide a good education for their kids.
Paul Krugman, a professor of economics at Princeton, and Edward Mc Clelland, a journalist and author of several books (about the economy and Obama) on the other hand both believe that the American Dream is something that still needs to be a bit altered.
Krugman claims that the American Dream today is simply just not being in debt.
Tim Roemer, a former US ambassador to India who has written extensively about policy issues, claims that the American Dream is still existent because the United States is a really good place to be because it has many assets―higher education, number one economy, free market, and demographics.
He believes that Americans just complain and complain when in reality they should be lucky because they have many freedoms and benefits that others countries do not have.Mc Clelland asserts that this has happened because capitalism, and because of the lack of involvement of the government and the only way to restore the American Dream is to get the government more involved and having them regulate the market. Becker, a Nobel Prize winner in economics, & Kevin M.Murphy, an economics professor at the University of Chicago and Krugman’s opinions oppose to each other.He asserts that if the government was more involved into helping the education for the youth then debt would not be a huge issue for many Americans.Mc Clelland asserts that the American Dream has changed since 1970s.I also agree with Krugman and Mc Clelland when they talk about involving the government.The government has much power and they can use that power to help inequality decrease by taxing the rich more and just having the government more involved like Krugman and Mc Clelland say.In terms of education, Becker and Murphy believe inequality has helped our education, and Roemer believes that our education still needs some help.Lastly, Becker and Murphy believe that inequality is a good thing because it help us progress while Krugman believes it is not something that can help us progress.In conclusion, there has always been ongoing debate on whether the American Dream is still there or not and what does it mean to people.Tim Roemer claims that the American Dream is still existent because the United States is a really good place to be because it has many assets while Krugman and Mc Clelland believe that the American Dream needs some alteration.