Under what type of economic system does the U.S. operate?

Answer 1

Give me all your money and maybe i will pay you back in 100 years.

Answer 2

In this mixed economy, corporations and other private firms make the vast majority of microeconomic decisions, and governments prefer to take a minimal role in the domestic economy. Because of this, the U.S. has a small social safety net, and business firms in the U.S. face considerably less regulation than those in many other nations. The fiscal policy of the nation since the New Deal has followed the general ideals of Keynesian economics, which replaced Hamiltonian economics following the Great Depression. Neoliberal ideals have become more prominent since the presidency of Ronald Reagan and with the growing influence of globalization. Since the early 1980s, the United States has transformed from being the world's largest creditor to world's largest debtor. As of 2006, the gross external debt has exceeded 10 trillion dollars or 70% of GDP, and continues to grow fueled by large current account and federal government deficits (collectively termed twin deficits).

Answer 3

There's no single answer to this. The answer of what the "system" really is now depends on the industry you think represents the Economy. I cannot think of any that are entirely "Free Market", with the exception of those one would call "Black Market", because the products are illegal, such as drugs or prostitution. Those industries operate without any price controls, and are completely governed by the laws of Supply and Demand, with government's only impact being to depress one or both by criminalizing participation in those markets. Most other industries are controlled in some way. Minimum wage, licensing of doctors, lawyers, banks, construction contractors, insurance agents, casino dealers, livery drivers, and stock market brokers; there are fewer occupations where all one needs to go to work is an employer than there are those where one needs government permission of some kind to go to work. OSHA regulations, EPA regulations, INS regulations, and EEOC regulations, health department certifications... they all contribute to the virtual alphabet-soup of agencies (few of which, if any, are contemplated by the Constitution) that businesses must mollify in order to serve a customer in a "free market" transaction. The bottom line is that it's largely government-controlled, has been for decades, and that's why no one is surprised at the idea of government bailouts for businesses that the government screwed up. It's socialist. Even Farming is socialist, as it isn't even necessary for a "farmer" to apply to receive a subsidy for not growing something on their land.

Answer 4

Central Private Banking Regime or as its more popularly known - The Federal Reserve System. This is a fiat based system which is in no way backed by any precious metals of any kind. It is also unconstitutional. Alot of Americans aren't aware of this. The Federal Reserve System is not federal and Has no reserves. It is a private bank designed for profit. It was signed into law by then President Woodrow Wilson in 1913, A decision he would later regret.

Answer 5

Limited Free Enterprise
The gov't can intervene upon a rare occasion (the Great Deression) otherwise it's laisez-faire

Answer 6

It's called Capitalism.
It's an open market, based on competition between individuls. (or used to be, now mostly corporations)

This also means that the "means of production" is privately or corporately held. Meaning that people or corporations hold the resources necesarry to create goods and services and that it is up to the people to decide what goods and services to make and produce and who to sell them to, and for how much.

This means that everything must be done for a profit

Answer 7

Sometimes I enjoy a puzzle involving taxonomy. However, sometimes I don't. I particularly don't when I have to subdivide the puzzle by figuring out what KIND of taxonomy? The kind that involves the incessant splitting of hairs?

Don't you know that the Eighth Amendment prohibits cruel and unsual punishment?

Answer 8

Capitalism.

Answer 9

Strained

Answer 10

Imperialist capitalism.