This dream endorses capitalism, individualism, and distrust of government. But it also endorses equality of opportunity, compassion for the truly needy, and the right of democratic majorities to regulate the excesses of the few, whether of individuals or corporations. The American Dream is not a unitary ideology but rather a complex belief system which forms the context for political debate in America. Ideology and Attitudes about the Role of Government Contemporary liberalism emphasizes equality of opportunity. Naturally, there is great diversity among self-declared liberals on many of these issues.
Contemporary conservatism emphasizes freedom as expressed in free enterprise.
This pro-business stance leads to criticisms of New Deal reforms, government regulation of business, and attempts to reduce income inequality. There is a faith that the private sector, including charities, can meet social needs better than can government. Socialism has traditionally centered on belief that public ownership of the means of production, often involving nationalization of industry, government guarantees of employment, sharp reductions in income and wealth inequalities, and reduced military spending. In America, socialism is often equated with communism, which was rejected in the 1990s by Russia and Eastern Europe. However, democratic socialism is still a common ideology throughout much of the world, part of a continuum which blends into the Social Democratic parties of Europe, which have been staunchly anti-communist.