The “American Dream” is a phrase referring to a purported national ethos of the United
States: that every person has the freedom and opportunity to succeed and attain a better
life. The phrase was popularized by James Truslow Adams during the Great Depression in
1931, and has had different meanings over time. Originally, the emphasis was
on democracy, liberty, and equality, but more recently has been on achieving material wealth
and upward social mobility.
Adams defined it as
that dream of a land in which life should be better and richer and fuller for everyone, with
opportunity for each according to ability or achievement.  It is not a dream of motor cars
and high wages merely, but a dream of social order in which each man and each woman
shall be able to attain to the fullest stature of which they are innately capable, and be
recognized by others for what they are, regardless of the fortuitous circumstances of birth or
position.
The tenets of the American Dream originate from the Declaration of Independence, which
states that “all men are created equal”, and have an inalienable right to “life, liberty, and the
pursuit of happiness”. The Preamble to the Constitution states similarly that the
Constitution’s purpose is to, in part, “secure the Blessings of Liberty to ourselves and our
Posterity”. It is said to be a set of ideals including representative democracy, rights, liberty,
and equality, in which freedom is interpreted as the opportunity for individual prosperity and
success, as well as the chance for upward social mobility for each according to ability and
achievement through hard work in a capitalist society with many challenges but few formal
barriers.