Commentary
Economists across the ideological spectrum largely, if not entirely, agree that the United States has a “mixed economy.” In other words, our economy operates somewhere between the polar extremes of the classical liberal free-market capitalism that prevailed during the early decades of our republic and socialism, under which the government directs economic production. One possible label for our system is bureaucratism—a system in which the state has absorbed some segments of the private economy while influencing many remaining private enterprises via extensive regulation.
To understand bureaucratism more fully, we need to perceive clearly its economic effects and political tendencies….