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The “American Dream” is the most important of our national myths. It’s the idea that, with hard work and determination, anyone in this country can achieve middle-class security, own a home, start a family, and provide the children they raise with a better life than they had.

Is that still true?

On the one hand, our economy is the envy of the world. We are the richest country, leading the pack when it comes to innovation. And more people choose to move here for economic opportunity than to any other nation.

And yet, everywhere you look in this country, there is a growing sense of pessimism. A sense that you can work hard, play by the rules, even go to college, and still end up saddled with debt and unable to afford the basics, like a home.

Tyler Cowen, Katherine Mangu-Ward, David Leonhardt, and Bhaskar Sunkara duke it out over the state of the economy.

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