In the United States today, we have what can be called a
mixed economy. It is one that is predominately market-oriented, but which also has a
large dose of government intervention. If the government had pursued a more consistent
course, it is likely that the country's economic system would be much less
mixed.
If the government had been consistent, it is likely
that our system would be much farther over towards either a command economy or a pure
market economy. For example, in 1937, the Supreme Court ended the policy of
"substantive due process," which had made it very hard for the government to regulate
economic activity. If the Court had not done this, and had been consistently
pro-business, our system would likely be one in which businesses could operate with many
fewer regulations. This would make us much more of a market economy and much less of a
mixed economy.
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