America Is Socialist For The Wealthiest Citizens.

A look at the real controllers of the American economy.

Joshua Edward
9 min readJun 7


Photo by Jingming Pan on Unsplash

The American economy is a planned economy, despite the popularly accepted belief that it is a free market. America is a socialist nation, but only for the most important and wealthy citizens, and these citizens are the Financial Controllers of the American Economy.

The Oxford Dictionary defines Socialism as:

“a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.”

But which community?

Take this definition and apply it to “the community” which is the top 1% of Americans who own the majority of all valuable and tradable resources, and it describes perfectly the American economic model.

In America, if you are rich you will stay that way, and if you are poor you will stay that way too.

Sure, there are a few breakthrough cases here and there of people who go from dirt to dollars, but in reality, it is such a small number of people that it’s almost not worth talking about at all.

And besides, in truth, those stories are rarely true anyway.

On the other hand, if you are truly rich, then you never go backward, you only get richer and richer and richer.

It is an empirical fact.

Here are some numbers

In a free-market economy, there should be a fluid and frequent exchange of wealth, where voluntary exchange without government interference is the sole basis of the system. That is not what is happening in America, not anymore.

First of all, the vast majority of all financial transactions in the USA occur via financial service providers, such as banks or payment processors.

Of all the $19 trillion in deposits in America, almost half is in just four American banks, with the vast majority being littered across the remaining top 20.

This is vastly different from 70 years ago when the majority of transactions in America occurred via cash.



Joshua Edward