Capitalism is the economic system of free people, which means the U.S. has not had capitalism for a long time. Nonetheless, those who want to tear down the present system persist in calling it capitalism. From Jeff Thomas at internationalman.com:
Recently, an American colleague commented to me, “We no longer live in a democracy but a dictatorship disguised as a democracy.”
Is he correct? Well, a dictatorship may be defined as “a form of government in which absolute authority is exercised by a dictator.”
The US today is not be ruled by dictatorship (although, to some, it may well feel that way.)
But, if that’s the case, what form of rule does exist in the US?
At its formation, the founding fathers argued over whether the United States should be a republic or a democracy. Those founders who later formed the Federalist Party felt that it should be a democracy – rule by representatives elected by the people. Thomas Jefferson, who created the Democratic Republican Party, argued that it should be a republic – a state in which the method of governance is democracy, but the principle of governance is that the rights of the individual are paramount.
STRAIGHT LINE LOGIC 