Know Dreams: The State of the American Dream
Thursday, September 6
Jon Wolf discusses the current state of the American Dream.
Jon Wolf is currently a full time professor of economics at COCC. He teaches microeconomics,
macroeconomics, international economics, and political economy. He also possesses 25 years of
experience as a government and corporate economist. Jon brings a unique ability to clearly explain and
discuss economics by presenting a blend of real world examples with economic choice theory.
Is the American Dream alive and well? From an economic perspective it is. Economics is the study of
choices, constraints, and consequences. The outcomes however are not guaranteed. In America we call
these uncertain outcomes opportunity: The opportunity of risk and reward; the outcome of hard work,
determination, and luck. Often this dream is characterized by our consumption, it looks like a house, a car,
and a family, and together these equate financial success. Yet, this narrow definition overlooks other
important aspects of the dream like America's inclusive institutional and government policies which facilitate