How is the American Dream presented in The Beautiful and Damned?

The pursuit of the "American Dream" is a recurring theme in Fitzgerald’s canon. But what does this phrase mean, exactly? Scholars point to the definition as it was first publicly laid out by James Truslow Adams, in his 1931 book Epic of America. To quote the author:

The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement. . . . [It is not] a dream of motor cars and high wages merely, but a dream of social order in which each man and each woman shall be able to attain to the fullest stature of which they are innately capable, and be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position.

How does this concept pertain to Fitzgerald’s second novel? The Beautiful and Damned, it’s worth pointing out, is widely considered to be loosely autobiographical. The protagonist, Anthony Patch, is a stand-in for the author himself, and Patch's wife, Gloria, represents Zelda Fitzgerald. In the story, Anthony and Gloria are blessed by wealth and good fortune—they're socialites, with plenty of money and party invitations—but they're lazy, too. They don't have to work for their privilege. They were born into it. And though they seem to be living the dream, the endless stream of cocktails and social engagements isn't exactly good for them. Gloria picks fights; Anthony turns, more and more, to heavy drinking, failing to commit to any occupation as he waits around for the massive inheritance he's in line to receive from his grandfather.
There's a melancholy edge to this novel. What are two young, beautiful, and talented people supposed to do when they have nothing to do—when there's no "American Dream" to pursue because they already have everything they could want? The Beautiful and Damned explores that uncomfortable ennui and the human condition in general: ambition, greed, our propensity for boredom, and the need for a purposeful life.
http://www.loc.gov/teachers/classroommaterials/lessons/american-dream/students/thedream.html