I love it when people point to the current state of the American economy as evidence that Capitalism has somehow failed. This, of course, wrongly assumes that the United States is a purely capitalist society. But if that's the case, why are we currently ranked 9th in the world in economic freedom?
According to the Heritage Foundation, our economy is "mostly free." I think our current economic crisis is primarily attributable to the "mostly" part, while our historically unprecedented prosperity is a direct result of the "free" part.
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