Government involvement has become so prevalent in the U.S. economy that the U.S. economy is now generally considered to be a socialist economy.

Question

Quizplus · Accepted Answer

While the government does play a significant role in regulating and shaping the U.S. economy, it is still primarily a capitalist economy based on private ownership and market competition. Socialism involves government ownership of the means of production and the redistribution of wealth.

Government Involvement Has Become So Prevalent in the U