In the earlier two parts of this article I was trying to dispel the myth that the U.S. economy, in its current form, is a free market, or even particularly close to one. Whether in government, finance, healthcare, technology or industry as a whole, there is hardly a part of the marketplace that is not touched or controlled by the heavy hand of government. Government, in turn, is controlled by the tax system, the financial and banking industry (including central banks), and big business and their lobbyists. At one point its history the U.S. could rightly be called a free market or one that nearly defined capitalism, but over the last century the economy has turned – willingly or not – toward the arms of government control.
David A. Pace, CFA
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