The American Dream is an idea that dates back to the early days of the Revolutionary War. It was what we fought for, the freedoms and rights that we were were to lay down our lives for. The Declaration of Independence states that “among these [rights] are life, liberty, and the pursuit of happiness.”, thus it should be said that the idea of the American Dream is freedom (ideologically and practically) for all citizens to pursue opportunity on their own.
This is where most peoples misconception comes into play. The Dream is not simply about obtaining wealth like many would have you believe. Wealth is only an end result should people be given the opportunity to pursue it. From an economic sense the Dream is only the ability that you can work towards an end goal. Should wealth be your end goal, you have an equal opportunity as everyone else to obtain it.
The Dream is supported by Laissez-Faire capitalism, a market free of government intervention where peoples decisions make real outcomes. If you want to be successful and you can work hard then you can achieve some level of success. Under such a free system we saw the industrial giants of Andrew Carnegie, Cornelius Vanderbilt, and Henry Ford rise to prominence by their own hard work and innovation.
In its truest sense, the American Dream is freedom and liberty. It grants us an unhindered ability for success of what we wish to work for and make of our lives. It is not a government stipend, it is not a hand out, and it is not welfare. It is a system that only allows the strive of all hardworking individuals the ability to get ahead and to do what they feel is best for themselves.
With all of this said I must point out one fact, I am not a Libertarian. I understand the necessity for some rules and limitations on people as a whole as well as the value or morality as a mediating factor in peoples lives. I am a Conservative in nature, though you could more properly say that I am a Traditional Conservative or a Paleoconservative. Below are a few links to bring the discussion further. I wont say that I fully approve or disapprove of any of them, but I think they provide an interesting insight and additional information to the topic at hand. Enjoy.
http://www.importanceofphilosophy.com/Politics_Main.html
http://www.renewamerica.com/columns/stone/021121
http://usconservatives.about.com/od/typesofconservatives/a/PaleoCons.htm