Redefining and Realizing The American Dream
I will go on record and say that the U.S. is definitely undergoing an economic reset, which will restructure the American Dream. I believe the days of overflowing prosperity and immense abundance are over for a while if not forever. This is due to the fact that as we reset our system we must purge out the excess that has left us bloated with deadweight. It is now time to burn off the toxic weight and operate within a lean mindset focused on efficiency. Realistically this means income levels may have to be reduced and some programs which require massive spending with no return will have to be scaled back. It may not be pleasing but tough times call for tough measures.
How we got to this point can be pointed to various factors. In The Underlying Issue I voiced that our overextension due to growth financed by massive debt is currently paralyzing our ability to be productive. Combine this with ineffective leadership and what is produced is a nation of minimal to zero confidence in economic stability. This is not a suitable position to be in as we face an uphill battle to overcome in both job creation and deficit reduction. In order to recreate and realize the American Dream we have to put aside petty differences and focus on establishing a strong foundation for all to function within efficiently. No, not a redistribution of wealth but an effective set of policies and initiatives designed to propel innovation.
So how would introducing innovation redefine the American Dream? Innovation is a process which must be implemented on various scales through various levels, which is more long-term rather than short-term. During this process we are strengthening the infrastructure to support the future growth of innovative and operational developments. In the present though while productivity is slowed; stimulative initiatives are used to increase consumer confidence since economic uncertainty is feverish and reduces consumption. This though has little effect so we must endure market correction in the form of decreasing entitled behavior that seems to plague our somewhat spoiled society. Rewarding inefficiency and mediocrity is a thing of the past; hard work must become a functioning mindset once again. Those who produce creativity, innovation and productivity will be compensated at premium levels because they fuel our reemergence to the top of the economic ladder. In return the system is molded attractively within the marketplace to increase demand for our products and services, which propels increased output. This leads to increased investment in human capital which leads to increased consumption, sparking a rejuvenation of confidence in the economy and marketplace.
Sounds easier said than done. So how do we get this much-needed outcome? As I stated, innovation is a process that occurs on various levels that piece together to form the bigger picture. That is why effective leadership and effective communication will be major factors in the implementation of this ongoing process. Next week I will identify exactly what these different levels are and how they combine to lead towards productivity and job creation.
Posted on August 11, 2011, in Economy, Entrepreneurship, Finances, Leadership, Management, Small Business and tagged America, American Dream, Does America need innovation, Economic development, economic reset, Economy, Entrepreneurial Ambitions, Entrepreneurship, How do I realize the American dream, How will America improve, How will entrepreurship help the American economy, How will the American economy improve, Innovation, Is America lost, New Economy, redefining the American dream, The American dream, Was the American dream a lie, What is the American dream. Bookmark the permalink. Leave a comment.