Final answer:
According to American Exceptionalism, failure to achieve wealth is typically seen as a result of individual failings, not systemic issues. This ties into the belief in the American Dream, where personal diligence is supposed to ensure success. However, systemic barriers are increasingly acknowledged as contributing factors.
Step-by-step explanation:
According to the ideas espoused in the myth of American Exceptionalism, failure to achieve wealth and prosperity is often attributed to individual shortcomings such as lack of hard work, poor work habits, or the failure to take advantage of educational opportunities.
This perspective is rooted in the belief that success is accessible to anyone who is diligent and responsible, and any failure to navigate the economic system is largely seen as personal. The myth emphasizes that with hard work and determination, anyone can improve their social standing—an idea intrinsic to the American Dream. However, this notion has been challenged, especially during and after the 2008 recession when systemic issues such as insufficient job availability, racism, and sexism were brought to the forefront as significant barriers to economic prosperity.
Ongoing debates question whether these systemic barriers or personal failures are to blame for a lack of success. Nevertheless, many Americans still hold on to the belief of self-effort and individual responsibility, which are central to the narrative of American Exceptionalism and social mobility.