What type of economic system does the US use?

Answer 1

In terms of capitalism, there are many kinds ranging from laissez-faire capitalism to social capitalism, where laissez-faire involves no government regulation of businesses, corporations, commerce, or production and social capitalism involves heavy government regulation of businesses, corporations, commerce, and production.

The US has encompassed all ends of the spectrum during its history.

As of right now, the US leans much more towards social capitalism than laissez-faire capitalism with programs like a graduated income tax, inheritance tax, social security, welfare, etc. Government branches of regulation include the FDA, FTC, FCC, Department of Commerce, Department of Agriculture, etc.

A+LS: mixed-market

The United States operates under a capitalist (also referred to as "free enterprise") mixed economic system, where there is little government interference in private trade (unless the trade violates the Constitution or other Federal Laws).

The United States has a mixed economic system. This means that it consists of a command and free market economy.

Answer 2

Typically, people will argue that the US has a CAPITALISTeconomic system, but the US actually has a mixed economy with some aspects of capitalism, some aspects of corporatism, some aspects of socialism, and some aspects of regulatorily-managed economics.

Answer 3

The United States is a Market Economy

Third World war countries are Planned economies

Canada is a Mixed economy

Answer 4

It's mixed, which almost all real economies are in practice. It's closest to a market economy, but there are some significant aspects of a command economy such as substantial farm subsidies.

Answer 5

The US is capitalist: wages system, production for sale, class system, minority ownership of the means of production