Final answer:
The 'land of opportunity' refers to the American Dream, where hard work can lead to success, but public policies to ensure this are often met with mixed results, especially during economic downturns like the 2008 recession.
Step-by-step explanation:
America has been referred to as the "land of opportunity" because it has historically presented the notion of a ladder of opportunity for all its citizens. This concept is intertwined with the American Dream, suggesting that with hard work and determination, any individual can achieve upward mobility and financial success, regardless of their background.
However, this idealized view has faced challenges and controversies, especially during times of economic hardship, such as the recession that began in 2008 which led to high unemployment rates and questioned the viability of the American Dream.
Public policy initiatives often aim to foster these opportunities, particularly for those starting in disadvantaged positions, through a variety of proposals that seek to provide equal chances for all to succeed. The effectiveness of these initiatives can be mixed, requiring open-mindedness from the government to experiment and adapt as needed.