Capitalism in America fails to the degree Americans implemented socialistic ideas. It reaches back to the beginning of the 20th century and the 16th amendment, voted in 1909, ratified four years later, giving the government more money for bettering society.
The government used it to fight alcoholism; we know how Prohibition ended. Since 1917 government has been spending a fortune to protect America from undesirable immigrants, causing another ongoing disaster.
The welfare programs gained momentum in the 1960s, forming a demanding attitude among Americans. In classic capitalism, hard work and smartness (education) brought prosperity. Now, too many Americans claim that they deserve a decent standard of living without any effort on their part.
Capitalism failed America as much as it is not there anymore.
Suggested reading: “Capitalism versus socialism, the only meaningful choice we all face,” and “Capitalism, socialism and communism.”
By the end of the 19th century, Argentina was one of the wealthiest nations in the world. Capitalism “failed” Argentina as well. America is getting on the same path. You can read about it too: “Argentina — a warning to the United States and China.”
Concluding, Mr. Mirza, I suggest more reading and less writing. Unless you have a religious mental attachment to some ideological concepts, then facts and logic do not matter.
