Is USA a capitalist or socialist economy?

Question

I am looking for a list of 5 capitalist, socialist countries and countries with a mixed economy

Answer 1

Constitutionally it is very capitalist. But in recent years it has become both communist and fascist.

Answer 2

Some of the earlier respondents seem to "shoot from the hip" when seeming to imply that a bit of welfare state implies a country is not capitalist.

Per definition (I'm a political economist...) capitalism is an economic system in which the means of production are privately owned and in which resource allocation is determined mostly through the operation of a free market. By these standards, the US economy is capitalist. But if I've understood your question correctly, you're also looking for the names of some non-capitalist countries?

Socialist countries hardly exist anymore - insofar as one dogmatically considers "socialism" as collective ownership rather than state ownership of productive resources. (State ownership we would characterise as communism - although in all fairness nazism and certain military regimes have elements of it as well.)

But OK, if we cast a bit more widely I'd say examples of socialist/communist economies are North Korea, Myanmar, Turkmenistan and Cuba. Examples of mixed economies - here defined as a non-trivial public ownership of enterprises co-existing with private business - are China, Vietnam and Russia.

Fourty years ago when the term "mixed economy" was coined the mixed economies would have been countries like France, Italy and Sweden, but there you go, in these countries the state has disengaged from the enterprise sectors. And, in the last 10 years the former communist giants have moved parts of their state sectors to the private domain.

Answer 3

lots of cheerleaders on this question.

read a bit of ayn rand, 'atlas shrugged' or 'the fountainhead,' or if you prefer the darker side, try 'we the living.'

the pure capitalist theory is called 'objectivism' - note the word 'pure.'

a pure capitalist society OR economy will never have multi-billion NO-BID contracts. in a pure capitalist economy NOTHING would ever be no-bid.

also, the govt stepping in to help companies such as the savings and loans, chrysler, and more recently the airlines, would NEVER happen.

no company would EVER get preferential treatment because of the presence of lobbyists - ever. companies would live and die based soley on their products and ideas and ability to get those to the market.

things like aid to farmers, subsidized tobacco production and tax breaks and any kind of corporate welfare (or any other kind for that matter) would never exist.

does this sound like the usa - i didn't think so...

Answer 4

a pure lassaiz-faire free market economy was a failed expirament during the USA's gilded age. Monopolies theoretically cant exist in a perfect free market economy, but in reality they will exist mainly because of scale or barriers to entry. A monopoly in general is a terrible enemy to efficiency and a negative impact on economy. For the most part the US is a capitalist economy, and most of the exceptions are cases where there would be an obvious monopoly of scale (roads, for example- you cant build 5 different highways between the same two cities, ergo competition is impossible)

haha who on earth gave me a thumbs down on this answer? im really curious. I cant imagine anything that would be offensive in it, unless someone didnt like my 'failed expirament' comment? hahaha well ok, what happened with zero gvt involvement? look at railroads history!

Answer 5

There is no pure capitalist economic country that I know of. The US has the EPA, OSHA, FTC, SEC, Social Security, etc. All of those are controls on economics.

Now, some countries are more socialist than others. European economies are much more socialist than we are.

Answer 6

We are capitalist but going sociallist everytime the Dems take power. It is my beliefe we are the only capitalist still out there, Enland, Canada, are socialist The US and the Czech rerublic are as close to capitalist I can think, the rest are in between or communist.

Answer 7

Mixed economy in the U.S. Social Security taxes all workers and gives to the retired or disabled. There is not a true capitalistic nation anywhere on the palnet.

Answer 8

The USA is a capitalist country with some governmental controls.

Answer 9

U.S.A. has a capitalist base economy.

Answer 10

capitalist