To: Voter Victor
From: Project Manager
Subject: U.S. Economic System

First off, let me thank you for your interest in understanding the economics of the United States and how it works. It has been brought to my attention that you would have heard quite a few different ideas about our economic system. Let me take this opportunity to clarify, as much as possible, about the U.S. and our governmental system.
Let’s define what a Capitalist or market-based and “mixed” economy actually means. Capitalism is defined as a social and economic system where capital assets are mainly owned and controlled by private persons (big corporations), where labor is purchased for money wages, capital gains accrue to private owners(big corporation CEO etc.), and the price mechanism is utilized to allocate capital goods between uses. A “mixed” economy works slightly different than Capitalism or a market-based economy as a whole, but many of its features are included. “Mixed” economy in which both market forces and government intervention and direction are used to determine resource allocation and prices. The U.S. economy is a mixed economy; while it relies to a great extent upon markets, government also regulates some of the private economy.
Now, I’d like to take just a short trip into the U.S. system of government and federal levels as well as government involvement. The United States was the first modern national constitutional republic. Here in the U.S. power is shared between federal governments and state governments including three branches of American government: the Executive (President), the legislative (Congress) and the judiciary (Supreme Court). All of these individuals have responsibilities that make our government flow smoothly. For example, while the legislative (Congress) has the power to create law, the executive (President) can veto any legislative bill presented;