Hello Mina,
I'd have agreed with you in 1965, for sure. But the economy is becoming a bit more like the economic structure of Hollywood actors.
In Hollywood, the vast majority of actors make pretty much no money. They work as waiters and such, and get out-earned even by real waiters, because they're constantly losing jobs because they ducked out to audition for a part, or to work for a week in some scale-pay bit part. Even a lot of "working actors" who can regularly book small roles don't live much better than a poverty level, because they're living in a hyper-expensive area as economic free agents, meaning no benefits and no security. But then, there's this tiny sliver on top of that which can make hundreds of thousands or even millions of dollars for a few weeks' work.
I think the overall economy is moving that way -- or at least greatly at risk of moving that way.... that there will end up being few of those "middle class" jobs where your basic needs are met well enough that you can be happy. It could wind up a lot more like a lottery, where either you win big, or you get nothing but misery.
We are headed that way, true, but we are long way from the destination. There is still a very large and healthy middle, and happiness is achievable without great wealth.
True, it is harder to find as the ruthless wealth-seeking corporations cut off all avenues they can possibly find, but as that dynamic is in play, so is human creativity and ingenuity. It is still possible to rise to moderate wealth without being CEO.
The Hollywood analogy is a good one. Reminds me of the music industry, which is much the same. Entertainment and art are not typically lucrative for most workers. Question:
What do you call a guitar player with no girlfriend?
Answer:
Homeless.
Aside from the stardom-or-pauper world, there is lot more. Many high-skilled functions are needed by the big corporate world. Sales, marketing, engineering, research, finance, insurance, accounting, production, teaching, mid-level management. Small business and franchising also make a lot of mortgage payments for middle America, buying dreams one solid paycheck at a time.
I know some entrepreneurs who have done well. One of them began by trying to do a healthy snack shop, selling muffins with whole food ingredients. Great for society, but not what the market really wanted. Soon it was discovered that sugary donuts are just too irresistible. They sold well, so the business was converted to give people what they want. Soon after that, additional locations had to opened, workers hired. Another entrepreneur acquaintance came up with a mixture of chemicals that did a good job of cleaning roofs when applied with a pressure washer. That turned out to be a hit and more workers had to be hired to meet demand. Yet another is a small construction contractor who simply does a good dedicated job and never has to advertise. That business is booked up a half-year out. Word-of-mouth keeps the orders coming in for remodeled bathrooms, kitchens, room additions, etc.
None of these workers are getting ultra-wealthy. They are the heartbeat of middle America.
I think it makes more sense to chase after the readily-achievable middle wealth of ample happiness than to enter a field where only a small fraction of people dominate and the rest have little to nothing.
The American dream remains the same. Find work that delivers respectable regular paychecks. Save up a down payment. Get a mortgage and work toward paying off a house. That is the primary way to American success. Get that house paid off, get those years in, pay in to Social Security and Medicare, qualify for benefits and get some savings tucked away. That is the recipe for an enjoyable retirement by the time that age is reached. Let good times with family and friends be the circle of personal happiness.
If an individual just gets that paycheck and mortgage by age 40 or so, a good life in the middle is achievable. 25-30 years is all it takes to pay off that house. Presto. American dream in the lap. Happiness knowing that doing so is being a productive contributing member of society.
Has it gotten harder? Yes, no doubt. Is it still achievable? Yes, no doubt.
