Did Enron Kill the American Dream?

MSNBC has been airing “Smartest Guys in the Room” lately and I caught part of it last night. It’s the story of Enron – rise and fall – and was made in 2005. One thing I recall most about the Enron story was how many employees were affected by this crime. These were people who depended on what I call the ‘old American Dream’ and were crushed by the company’s demise. The old American Dream was one where you got a good paying job with a solid company, with solid benefits and pension, then worked for them for the rest of your life. There was a time when you could stay with just one company for life and you were well cared for.

Enron obviously was not that company but it gave its employees the illusion it was. And most of their employees believed in them. After all, who wouldn’t believe in their own employer? Enron did not singlehandedly kill the old American Dream although they had a good part in it. I believe that dream would have died without Enron in the picture though.

That version of the American Dream has been killed by general economic conditions. In most companies, employees are disposable components of their business models now. Unless you are the CEO or a high ranking officer in a large company, there isn’t much in the way of job security. And it’s sad to see so many people still grasping at that old American Dream even as it continues to slip away, out of reach forever.

Arguably, the new American Dream has replaced it. The new American Dream is where you start your own business and build into independent success. Thankfully, this version of the American Dream has been made easier by companies like Lightyear Wireless. Low cost start up and sky is the limit. So which version of the American Dream are you chasing?

2 Responses to “Did Enron Kill the American Dream?”

  1. Hello Ross, just wanted to say thanks for leaving an insightful comment on my blog. I like this blog post as well. Too many people are still “blinded” by the American dream, they don’t realize that times have changed. Today, financial freedom is not about having a safe, secure job…but to take charge of your own business.

  2. Ross says:

    Thank you Verniel. It looks like you do a lot of reprinting of articles. If you want to reprint some of my articles at:

    http://www.home-business-for-seniors.com/

    feel free as long as you quote the source which it looks like you do.

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