Middle-class kids are taught from an early age that they should work hard and finish school. Yet 3 out of 10 students dropped out of high school as recently as 2006, and less than a third of young people have finished college. Many economists attribute the sluggish wage growth in the U.S. to educational stagnation, which is one reason politicians of every stripe call for doubling or tripling the number of college graduates.

In 1941, prior to the U.S.'s entry into World War II, the co-founder of this magazine, Henry Luce, penned an essay in LIFE that exhorted "unhappy" Americans, "[distracted] with lifeless arguments about isolationism," to "create the first great American century" — the first, mind you, not the last. We are now entering the second decade of what will be an even more markedly American century; in fact, the Americanization of the world will characterize the foreseeable future far more than the past.

Viewing Stanley Kubrick's 2001: A Space Odyssey in the year 2010 is a depressing experience. According to this 1968 movie, by now we were supposed to have moon colonies and regular passenger service on space planes. And anyone who struggles with automated receptionist messages or programmable televisions knows that today's computers are just as psychotic as HAL 9000, only dumber.

It sounds like a dubious aspiration, but one of the more pressing priorities for America this decade is to preserve our cherished freedom to fail in this country. This freedom to fail may not have made it into President Franklin D. Roosevelt's famous declaration of the four freedoms that define America — it would have been bad karma on the eve of World War II — but it has long been one of the pillars of this country's exceptionalism. Call it the fifth freedom.