The American dream

The American dream

Introduction

The American dream is an ideology which states that the government is responsible for protection of every citizen’s chance to achieve what they believe is happiness. According to the founding fathers, every person’s need to achieve happiness is not only based on self-indulgence (Choi, 2015). It is a drive towards creativity and being ambitious. On such grounds, American society became a good place for people who aspire to have a much better life.

America has been able to keep the entrepreneurial dream alive by maintaining its position as a global leader of the innovation sector. This is as a result of the spirit of optimism and adventure among entrepreneurs in the state. Investments in science and technological sectors have also made it possible to explore adventures. Up to 500000 small businesses are created in a month.

Entrepreneurship has helped build a stable economy for America because it facilitates creation and sharing of wealth.  Once entrepreneurs come up with an established entity for their businesses, their resources are invested.  They also attract capital from people who invest, people who lend and even the public. Capital may be in form of equity, debt and other forms. This is a great mobilizer of public wealth and gives people an opportunity to benefit from achievements of successful entrepreneurs (Weller, 2014). A major aim of the economic sector is to have pooled capital which brings about wealth.

Entrepreneurship is an opportunity for creation of jobs. When and individual in America chooses to become self-employed, it reduces the number of persons looking for jobs. The entrepreneur in turn provides employment for several other persons looking for a job. Creation of job opportunities is a goal for American economy. When more jobs are created, the standards of people improve and the same people invest in the country.

Balance development of regions is achieved from people who set up new businesses. This is mostly effective when the choice for the location of the business is remote and less developed regions.  Once industries have grown and developed in these areas, there is improved infrastructure, facilities such as schools and hospitals are created and supply of water and electricity is extended to these regions. Direct and indirect jobs are created and the economies of the specific region are lifted. Employees of the new businesses and the businesses supporting the business lead to high regional economic output.

The national income of America is added since entrepreneurs create new wealth. While already existing businesses may be confined to bringing a specific amount of income, new businesses may be different. New businesses mean new products in the market which translates to new market. In addition to these, increased employment and more income earned means higher revenue generated from taxation. The government uses the revenue generated to invest in sectors which lower the country economically.

Lastly entrepreneurs bring change and adjustments to the society. Once they offer new products to the market, they assist in reduced reliance on outdated versions of technology and systems. Quality of life improves.  For instance, people may save time and energy by coming up with a water pump that pumps water automatically to the users.

The government has come up with strategies that have facilitated American dream remain alive for entrepreneurs.  A leader’s summit calling for improved economic growth was held in 2014. This could only be achieved through promoting competition, the innovation sector and entrepreneurship. The government also intended to help reduce cases of unemployment by encouraging entrepreneurship (Blackburn, 2017). The government came up with a strategy known as an entrepreneurial eco system. The entrepreneurial ecosystem is a term used to give a clear description of conditions which contributed to bringing people together as a means of achieving economic prosperity and create wealth.

Several moves have been made to ensure that entrepreneurial ecosystems are implemented. First, any entrepreneurial activity should be a priority for the government. For effective policies to be formulated, ministers in the governments are involved and work together with public servants who will help come up with clearly shaped policies and programs. The policy is also wide and covers every component of an ecosystem. The government has also ensured that all sectors in the American industry are covered. This will encourage growth in every sector. The government has also set up leadership structures that will help in management of responsibilities. The government has also developed policies that will address management.

Globalization has greatly contributed towards realizing the American dream for entrepreneurs because it has helped spread influence of America to the world. More markets for American products have been created which facilitates sale of products.  The influence of multinational corporations has also spread. International relations have also been boosted by globalization. America is able to cooperate with other nations and communication is more effective. Products being purchased by Americans have become cheaper due to cheap labor involved in manufacturing process. This improves the living standards of the Americans.

America has six natural resources. They have helped achieve the American dream by boosting the economy. The resources are an important component of supply. First, the large land mass facilitates economies of scale in businesses and the government sector. This helps reduce the cost involved in provision of products and services. The coastline within America has helped entrepreneurs create jobs which are mostly related to tourism and recreation. Large access to the coastline also facilitates cheaper imports and exports for products made by entrepreneurs. America also has fertile land to farm. The thick farming soil has had influence in producing agricultural products which has boosted the agricultural sector. Water assists in producing electricity and irrigation. It is also used in industries created by entrepreneurs to carry out various processes.

America has large amounts of reservation of coal and oil. Coal is a source of energy while oil has made it possible for several innovations to take place. An example is the innovation of cars, submarines and airplanes.  Substances such as trinitrotoluene are made from oil. Lastly, America has the highest number of immigrants. Upon immigration, people had to find a way of surviving in the new country. This led to innovation. Silicon Valley is product of innovation (Aldrich, 2017). When people come together, they are able to form and achieve common goals.

Conclusion

The American dream for entrepreneurs has been achieved. The economy of America has grown over the years as a result of entrepreneurial activities. Innovation in several sectors, government support, globalization and availability of natural resources has facilitated a good economic environment for entrepreneurs in America.

References

Choi, Y. B. (2015). Is the American dream dead? Inequality, mobility and entrepreneurship. Journal of Entrepreneurship and Public Policy, 4(2), 234-256.

Weller, C., Wenger, J., Lichtenstein, B., & Arcand, C. (2014). Increasing entrepreneurship among older Americans: policy lessons and recommendations. Public Policy & Aging Report, 24(4), 148-154.

Aldrich, H., & Ruef, M. (2017). Unicorns, Gazelles, and Other Distractions on the Way to Understanding Real Entrepreneurship in America. Invited by David Audretsch and Rosa Calazza to address the issue of” Have We Oversold the Silicon Valley Model of Entrepreneurship? The (Re-) Emergence of Main Street Entrepreneurship”. The Academy of Management Perspectives, amp-2017.

Blackburn, R. A. (2016). Government, SMEs and entrepreneurship development: Policy, practice and challenges. Routledge.

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