Thursday, March 10, 2016

Bernie is not a socialist; and the US is not capitalist

Good review article on capitalism vs. socialism in the Atlantic.  Bottom line:

Thus, if capitalism is defined as an economic system characterized by the maximum possible separation of the private sector and the government, and easy taxes and regulation, the United States does not have a strictly capitalist economy. In fact, economic freedom in America has been declining so precipitously that, to quote Hessen again, “the United States, [which was] once the citadel of capitalism, is [now] a ‘mixed economy’ in which government bestows favors and imposes restrictions with no clear or consistent principles in mind.”



Economic Freedom in the United States and Hong Kong, 1970-2013 Burden of Taxation and Tax Compliance in the United States, Denmark, and Hong Kong, 2006-2015
Total Burden of Government Regulation in the United States, Denmark, and Sweden, 2007-2016

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