In 2010, in the South End neighbourhood of Boston, USA, local residents woke up one morning to find a new Banksy piece on their walls. The image had two parts. Above, a motivational slogan in large letters, “FOLLOW YOUR DREAMS”, with a ladder leaning right next to it. Below, a worker figure in overalls, stamping the word “CANCELLED” in huge red letters directly across that sentence.

The piece appeared at the same time as the US promotional campaign for Banksy’s documentary “Exit Through the Gift Shop”. This work in Boston quickly drew the attention of both local residents and the international press.

On the surface the message looks like a simple joke, but underneath it carries a fairly bleak social comment. It is a sharp criticism of how the American Dream, the narrative of “work hard and reach your dreams”, has turned into an empty promise in the face of economic crises and systemic inequality.

Shortly after the piece appeared, it was partly damaged by an unauthorised intervention from another street artist. The building’s owner then repaired it and installed a protective perspex panel over it.

So is the piece still there? According to the information currently available, yes. “Follow Your Dreams – Cancelled” still stands today in Boston’s South End, under protection, visible to visitors.

In artistic terms, this piece is one of the cleverest examples of Banksy’s two layer compositional technique. Its simplicity and directness are the source of its power. Without any lengthy explanation, it sums up the tension between hope and disappointment in a single glance.