what economic system is the us

Introduction In the global economic landscape, the United States stands as a beacon of commercial success and innovation. To understand this prowess, one must delve into the nation's economic system. Even more so, from a legal standpoint, this system becomes deeply intertwined with regulatory frameworks and constitutional mandates. Historical Roots of the US Economic System: Legal Foundations The birth of the American economic system is deeply rooted in its legal documents. The Constitution, for instance, grants Congress the power "To regulate Commerce with foreign Nations, and among the several States," thereby setting the stage for federal economic oversight. Capitalism and…