In general, the American Dream can be defined as having the freedom that allows all citizens to achieve their goals in life through hard work in the United States of America. Today, it generally refers to the idea that one's prosperity depends upon one's own abilities and hard work, not on a rigid class structure, though the meaning of the phrase has changed over America's history. For some, it is the opportunity to achieve more prosperity than they could in their countries of origin; for others, it is the opportunity for their children to grow up with an education and career opportunities; for others, it is the opportunity to be an individual without the constraints imposed by class, caste, race, or ethnicity.

The definition of the American Dream is now under constant discussion and debate. Also "The package of beliefs, assumptions, and action patterns that social scientists have labeled the American Dream has always been a fragile agglomeration of (1) individual freedom of choice in life styles, (2) equal access to economic abundance, and (3) the pursuit of shared objectives mutually advantageous to the individual and society." Zangrando, Joanna Schneider and Zangrando, Robert L. "Black Protest: A Rejection of the American Dream". Journal of Black Studies, 1(2) (Dec., 1970), pp. 141-159.

While the term "American Dream" today is often associated with immigrants, native-born Americans can also be described as "pursuing the American Dream" or "living the American Dream".

"American Dream" is a song by Casting Crowns off their debut eponymous album. The band made their first music video to this song. It is the only video from their debut album and only their second overall.