The American Dream means something different to each of us. Whether it's that father who simply wants to support his family without government help, or that hip-hop artist who sells his first million copies and chooses to own expensive diamond jewelry, while foolishly renting real estate. This embodies the beauty of the American dream; it means whatever you want it to mean as you pursue your brand of happiness. However, at its core, is the opportunity to achieve prosperity through one's determination, hard work and personal ingenuity. Nowhere in the world has a country guaranteed this privilege so clearly and eloquently as in the Declaration of Independence. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay My maternal great-grandfather left Cuba for a chance to pursue that dream after becoming disenchanted first with Batista's corruption and then with Castro's socialist ideologies. He was an enterprising man who owned a small tobacco processing business that took the product from harvest to tanning. The Cuban government has killed every opportunity for free enterprise by forcing most processing companies to sell their products to the government at a disgustingly low price. Arriving in the United States with a few dollars and the clothes on his back, he fully understood that it was a privilege to become a U.S. citizen and never took his advancement for granted. The concept of the free enterprise society is fueled by this American dream. . Free enterprise is regulated according to the fundamental principle of supply and demand; identify the unmet need and find a way to satisfy it. To be a true free enterprise system, it must be free from excessive government regulation. Free enterprise is not only materially rewarding, it is what makes this nation so great as so many, both natives and immigrants, are able to create a progressive marketplace through innovation and creativity. The fundamental component of free enterprise is entrepreneurship. Global free enterprise is one of the key elements of today's economy. At the beginning of the 21st century, America was one of the first countries to globalize its economies. More recently, the expansion of the Internet and social media has helped make the world much smaller, bringing a distant continent as close as your nearest device. Of course, there have been both positive and negative effects of global free enterprise, including the expansion of business opportunities worldwide while jobs were lost overseas to outsourcing. This will naturally resolve itself as the playing field levels. Thomas Friedman, the author of “The Lexus and the Olive Tree” presented a very interesting analogy about globalization which he coined as the “golden straitjacket”. His philosophy states that a nation must sacrifice a certain degree of economic sovereignty to global economic institutions. This proverbial “straitjacket” restricts political and economic choices to relatively narrow parameters. As he studied the economies of various countries around the world, he noticed a clear theme; Communism has failed. Socialism has failed. But capitalism is here to stay even for the most primitive nations. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay My grandparents and parents were entrepreneurs all their lives and owned many businesses such as restaurants, jewelry stores, farms, property maintenance, electrical contracting, and.