Does america have a free market economy why or why not?

[Alexis]

Hi, so im doing a social studies paper on if america has a free market economy. We have to choose if we think it doesnt or doesnt.i personally think we dont have one but i need facts to back it up. For why i think this way. so what are some reasons why america doesnt have a free market economy?

[Liberal]

If you wanted to argue America didn't have a free-market economy, you could argue that the establishment of a central bank (in her case, the Federal Reserve) is one essential thing that refutes any idea America is a free-market economy. This is because the Federal Reserve "artificially" sets the interest rate, according to free-market economists, and therefore distorts how the market should really operate.

Furthermore, free-market economists cite the role of government in causing the crisis. They point to how by 2007, 81% of mortgage loans were government sponsored. Bear in mind, the sub prime market (mortgages, etc) is often seen as playing a role in the recession.

In a few words, the free-market economists would argue that a central bank and government's role in backing businesses causing the problems we see today.

I don't actually subscribe to any of this, but it's interesting to hear from right-wing economists anyhow.

(Link below for further information: good luck on your assignment!)