To the editor: Unemployment is a serious barrier to the American Dream of financial safety and residential possession (“Half one million younger Californians aren’t at school or working. Most are males,” Nov. 9). Stagnant wages relative to growing prices of dwelling and restrictive prices of residential realty are further limitations. In keeping with the Nationwide Assn. of Realtors, the median age of first-time homebuyers was 29 in 1981 and has since risen to 40.
These three limitations are worsening, rendering the American Dream unattainable for a lot of. So it isn’t shocking that latest polls present a development amongst younger Individuals favoring socialism. That development reveals an inseparable relationship between the American Dream and American capitalism, based mostly on non-public enterprise, unrestricted provide and demand and authorities intervention for public welfare and geopolitical concerns.
When right now’s younger Individuals grow to be a extra vital share of voters, they may threaten the sustainability of American capitalism. After the Trump presidency, policymakers ought to handle that rising risk.
The subsequent U.S. president might set up an advert hoc fee charged with recommending initiatives to revitalize the American Dream and maintain American capitalism. For stability and credibility, the fee membership ought to be broad, together with management of companies within the main market segments, along with management of nationwide associations of small enterprise homeowners, organized labor, actual property brokers and educators. It might additionally embrace bankers, financial students, constitutional regulation specialists and any others wanted for well-founded judgments.
The one important requirement of each fee member ought to be unwavering dedication to sustaining American capitalism.
Mel Spitz, Beverly Hills
