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I've never heard anyone say that.

Look, no economy is 100% capitalist or socialist. They're all SOME level of Mixed Economy. The USSR had money and there was some capitalism happening, and not just in the black market. Even market purist Singapore has aspects of the economy that are run by the government.

When we say a country is capitalist or socialist, we therefore generally mean they are MOSTLY one or the other. The US economy is MOSTLY a market economy. Most industries are heavily regulated, but are mostly free to make decisions on their own in accordance with the self interest and property rights. The same is true of pretty much all of Western Europe despite the fact that politicians often like to accuse them of being socialist...either as praise or criticism.

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Entropy

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2y ago
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Otis Steuber

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2y ago
Can you explain that answer
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paulbenn

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2y ago

The US economy is capitalist: wages system, ownership by a tiny minority, production for sale. Socialism has no classes, no money, no prices.

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Q: The American economic model is called by some scholars the second socialist model.True or false?
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