The State Department's description of our economy

[noamnety]

"The United States is often described as a "capitalist" economy, a term coined by 19th-century German economist and social theorist Karl Marx to describe a system in which a small group of people who control large amounts of money, or capital, make the most important economic decisions.

(snip)

If the pure capitalism described by Marx ever existed, it has long since disappeared, as governments in the United States and many other countries have intervened in their economies to limit concentrations of power and address many of the social problems associated with unchecked private commercial interests. "

http://usinfo.state.gov/products/pubs/oecon/chap2.htm


Might be time for them to delete that part about the government working to limit concentrations of power.