Final answer:
The term 'rags to riches' is often associated with stories of individuals achieving great success from humble beginnings, exemplified by historical figures like Benjamin Franklin and Andrew Carnegie. These narratives, whether factual or fictional, reinforce the ideal of the American Dream, where hard work and determination can result in substantial material gains.
Step-by-step explanation:
The phrase "rags to riches" describes a narrative of a person who starts with nothing and achieves great wealth and success. This term is associated with stories that illustrate the American Dream, where individuals overcome significant obstacles to achieve material success. Historical figures like Benjamin Franklin and Andrew Carnegie exemplify the "rags to riches" tale. Franklin discussed his own life story in his memoir, written in the 1770s and 1780s, as one that embodies the upward social mobility central to the American Dream.
Similarly, Andrew Carnegie, the steel magnate, has one of the most notable riches stories, starting as a poor immigrant and eventually becoming one of the wealthiest men in America. His background as a bobbin boy and telegram messenger before making a fortune in the steel industry represents a true "rags to riches" trajectory. Carnegie's success story and philanthropy efforts are well-remembered, as he donated vast portions of his wealth to benefit society, a principle outlined in his work, 'The Gospel of Wealth'.
Fictional narratives also captured the allure of this archetype, with authors like Horatio Alger writing hundreds of books about young boys who achieve success through 'luck and pluck.' Alger's stories contributed to the mythology of the self-made man and the possibility of achieving great wealth through hard work and a bit of good fortune.