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This work studies and analyzes the operational manifestation of the American Dream as an ideology of societal propulsion of America, as revealed in select American literary texts. The American Dream is the national ethos of the United States of America, which promises equal opportunity, prosperity and success to all regardless of their social class. The present work studies the American Dream as manifested in the selected American literary masterpieces, all belonging to the twentieth century. The works chosen for a detailed study and discussion are Sister Carrie (1900), The Great Gatsby (1925), Death of a Salesman (1949) and The Assistant (1957) which reveal the operational manifestations of the American Dream and provide conclusive evidence that the ideology of the American Dream was more of a myth than a reality.