The notion of the American Dream influences the U.S. economy because it creates the driving force behind the free enterprise system. The engine of the U.S. economy is entrepreneurship and the concept of an open society in which people can prove themselves based on their own merits. The American Dream is basically the idea that anyone can come to America and create an extraordinary life with hard work and skill.

Immigration

This dream has attracted millions of immigrants from all over the world who have in turn created their own imprints on the country through art, business and culture. Many have left countries paralyzed by broken political systems, brutal governing regimes and stupefying bureaucracies. In these countries, opportunity is limited and success is not correlated to hard work and talent. The American Dream is well-known throughout the world, as it is propagated by popular culture and success stories from friends and family of people who have moved to the United States.

Technology and Innovation

The U.S. economy is continually reinventing itself in response to new technologies. There is a dynamic process in which new companies emerge, replacing old companies that are unable to adapt to changing times. This is the essential ingredient that makes the U.S. special, but it would not be possible without the entrepreneurial spirit and streams of talented, ambitious people entering the country every year.

The American Dream attracts the people who end up taking the risks to start these new companies. For example, in Silicon Valley, 75% of new companies are started by immigrants. Many immigrants start their own companies because they lack the connections or pedigrees to be hired by existing companies.