Hello abhimahna,

I think you will start ignoring my posts from today , since I have been asking for so much help lately with my advanced studies.

Coming back to the passage at hand. I don't really understand how this passage "criticises the inflexibility of American economic mythology".

--In the first para, the author introduces "maximum freedom" and "openness".
--The very next line states that : "Fascination with this ideal has made Americans defy the “Old World”". --> This means that americans are indeed interested in change. ---Another line that supports this thinking is "We did not base our system on property but opportunity—which meant we based it not on stability but on mobility".
--Another supportive evidence: "But Americans imagined a condition in which speculators, self-makers, runners are always using the new opportunities given by our land".

--In the second para, author calls "reform" futile, but still states that "There is no attempt to call off the race. Since our only stability is change, America seems not to honor the quiet work that achieves social interdependence and stability"
--The people are ashamed of their past but still he states that "in the Wonderland race we must all run".

In short what I understood from the passage is that the author is mainly talking about the old vs new thoughts. I don't really understand how the main point of passage is the criticism of American mythology. That's is just discussed in the second passage for a few lines. But, passage as a whole is talking about the old vs new school of thoughts.

Could you please point out the holes in my understanding because I am clearly missing the point here.

Regards
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5. QOTD RC (Carcass)
6. Challange OG RC
7. GMAT Prep Challenge RC

As described in the Ultimate RC Guide for Beginners, it helps to get engaged and think about the PURPOSE of each paragraph. You might not understand all of the details in the first paragraph, but force yourself to think about WHY it is there. What is the author trying to accomplish?

I might not get everything the author says, but I see that he/she is comparing two drastically different things. The "Old World" economics are described by words/phrases such as settled possessiveness, cupidity of retention, a 'status quo' defended, property, haves and have-nots, non-starters, stability, and authority. Meanwhile, the "liberal idea of the economic market" in America is described with words/phrases such as unsettling deprivation, cupidity of seizure, 'status quo' attacked, a wheel spinning faster and faster, opportunity (not property), and mobility (not stability), with speculators/self-starters/runners being economic leaders and agents of change.

These comparisons are not all clear to me, but instead of trying to muscle my way through the facts (the what), let me think about the purpose (the why) of the first paragraph. The author is clearly trying to compare the "settled" and "stable" state of "Old World" economics to the instability and hectic nature of the free enterprise system in America. In other words, the first paragraph compares the highly-regulated and manipulated race of the Old World to the hectic and scrambled race of the free enterprise system.

The purpose of the second paragraph is to explain how things like reform, serving others, and helping those in need have been hindered because America can't let go of the "race". American legends glorify the race and those that run it but not those who quietly keep the system working and create social interdependence and stability. I might not understand all of the details of the second paragraph, but I see that the author is explaining problems with America's economic "racing".

Next, ask yourself, "What was the purpose of the entire passage?" Again, the point is to get engaged and think about what you are reading. Trying to think about WHY everything is there is more important than understanding all of the details.

See if that helps you tackle questions 7 and 9!

To post additional questions not already addressed in this thread, feel free to use the request verbal experts' reply button. Try to be as specific as possible and to let us know your thoughts so far. Thanks, and welcome to GMAT Club!!
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Hi GMATNinja,

7. It can be inferred from the passage that Woodrow Wilson’s ideas about the economic market
(A) encouraged those who “make the system work” (lines 45-46)
(B) perpetuated traditional legends about America
(C) revealed the prejudices of a man born wealthy
(D) foreshadowed the stock market crash of 1929
(E) began a tradition of presidential proclamations on economics

Initially i picked C for Q7, but in the second passage:

"....There is no pride in being an employee (Wilson asked for a return to the time when everyone was an employer).... "
hence the Ans
(B) perpetuated traditional legends about America.

Please let me know if my reasoning is correct.

Thanks and regadrs

I started today's prep with a plan of trying at least 4 700 level RC passages and ended up facing this first. This kind of passage is real dampener
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