Why isn't the US considered a communist country from an economic standpoint.?

Question

I mean with so much government regulation, and budget policy - how is the US considered capitalist?

Answer 1

I would have to agree that the U.S. economy is not the best example of pure competition (aka pure capitalism).  The closest are Hong Kong and Singapore.  I wouldn't say that we are near communism either though because the government doesn't say what or how much to produce. It just sets taxes, quotas, tariffs(taxes on imports), sets laws( which may or may not help the economy).  I disagree with the guy before though, we are not that close to laissez-faire, that point was during the conspicuous consumption of the 20s.  I'd say we're between mixed and keyne's. (leaning more on the mixed side but not past it). But yeah remember the Great Depression? It showed that govt intervention is healthy. Pure commumism and market economies are both ideals on opposites sides of the spectrum that are very promising.  Of course, communism hasn't worked in practice yet, and neither did pure markets. In my opinion, a mix is best.  So since we are on the side of mixed market towards pure capitalism we do have a form of capitalism just not as pure as you seem to want to see.  oops...I went too far in the answer and went on a tangent but oh well.

Answer 2

Adam Smith = Laissez Fair

Karl Marx = Communism

Mixed Market = Laissez Fair [ in between] Communism

John Maynard Keynes = Mixed Market [in between] laissez Fare]

US Economy = Keynsianism [in between] laissex fair

No market is ever 100% pure, but as you can see, economies can operate from under a central command to free market principles and ours is much much closer to free, although I think this year's election results might edge us towards the center.