Restoring the American Dream

Unemployment. The increasing divide between rich and poor. Decreasing social mobility. All of these are symptoms as well as causes of an economic landscape that is changing the planet in ways that are impossible to ignore. In our first annual Money issue, assistant managing editor Rana Foroohar describes this as a new age of volatility, while economist Jeffrey Sachs dissects the hollowing out of the American middle class. Our package makes it clear that the economic orthodoxies of neither the left nor the right have all the answers.

With these profound economic changes in mind, I want to announce that TIME, along with the Ford Foundation, AARP and the United Way, will be convening the first Opportunity Nation summit in New York City on Nov. 3–4. Opportunity Nation is a national group of business leaders, nonprofits, educational institutions and faith organizations trying to create a plan to increase economic opportunity in America. More than 150 organizations, including businesses like Staples and State Farm and nonprofits like Teach for America and the Boys and Girls Clubs, have signed up to participate. New York City Mayor Michael Bloomberg is co-chairing the leadership council and will take part in some of the many discussions and panels. The Opportunity Nation summit is a successor to the ServiceNation summit we helped convene three years ago to promote national service. In so many ways, this is a critical moment for our nation. We all need to put our minds and wallets behind the idea of restoring the American Dream for all.

Richard Stengel, MANAGING EDITOR