The idea that the American Dream is possible through merit is worth examining. While it’s clear that economic mobility through hard work is increasingly difficult (if not impossible), we need to recognize how exclusive that dream is in terms of who it is available to.
For example, you can cite the 30 years of economic growth post World War II, from 1945 to 1975. However, the caste system had too many barriers for this dream to be realized.
Dreams are dreams. They are personal. In the shared dream of human dignity and prosperity, it never ceases to amaze me that we resort to economic terms to prove the existence of progress.