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Do Bloggers Create Today’s American Dream With Social Media?

There's a documentary attached to the Mad Men DVD series that describes the culture of advertising and Madison Avenue in the 1960s. After watching the documentary, one idea that was emphasized was that advertising developed the American Dream. And the American Dream in 1960 was to buy products that demonstrated you have arrived in middle class America.

I was thinking that now advertising is not as effective as it once was, who is promoting the idea of the American Dream? And what role does social media have in defining today’s American Dream? Does this mean your peers, friends and families are developing the American Dream?

Also, given the recent concerns about pay per post and the influence of consumer product companies on bloggers, is the web evolving to the point where bloggers are becoming a proxy for advertisers?  Susan Getgood discusses more on this idea of advertisers using bloggers as a proxy, and describes the pitfalls of the FTC. Even if you do disclose payment or receiving a free product, I wonder are today’s champions of the 1960s idea of the American Dream, bloggers?