Is the American Dream dead?

University of California-Davis economics professor Gregory Clark certainly thinks so, saying in a Foreign Affairs Magazine article that the belief that hard work leads to more opportunities is just an illusion.

"America has no higher rate of social mobility than medieval England or pre-industrial Sweden," Clark wrote. "The status of your children, your grandchildren, your great grandchildren, your great-great grandchildren will be quite closely related to your average status now."

On "Outnumbered" today, Lou Dobbs disagreed with Clark's assessment and stated that he believes there is a "herd-like movement" in academia toward a liberal agenda.

Andrea Tantaros suggested that the American Dream has morphed into dependence on the government.

"It's the dream of coming here and getting a check," she said.

The American Dream is alive and well, according to Sandra Smith, because the list of the richest people in America is largely made up of self-made men and women.

Watch the "Outnumbered" co-hosts' reaction to Clark's article in the clip above.

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