What is a pure capitalist system, and how does it differ from the US economy?
a pure capitalist system is a free for all. In a pure capitalist system, AIG wouldn’t have had a bail-out, there wouldn’t be minimum wages, social nets, farmers subsidies… All the above are examples of autorities intervening in the market for some reason, preventing a global melt-down, ensuring a minimum standard of living for sworkers, helping the disadvantaged, treating some sections of the population as special… The more authorities intervene, the further away from pure capitalism is an economy.
