In the West we refer to our economic system as a free market system. Any economic policy the United States government ensues, the free market is the automatic default candidate for any blame. This is not only an inaccurate analysis; it is a straw man argument that is a gross misrepresentation of any true free market system.
Let me be the first to say that what we have seen during the time periods of acclaimed free market capitalism hasn’t been free market capitalism at all, but rather state-sponsored capitalism.
The two are very different. The number one difference between state capitalism and free market capitalism is the following: One enforces monopolies and the other doesn’t.
Through state capitalism, the state has market monopolies on goods and services such as the police forces, education, consumer regulations, roads for the most part, and most importantly, currencies.