Characterizing the prevailing political economy in America

How would you characterize the prevailing political economy in American history (i.e. laissez-faire, state-supported capitalism, state-restraint of capitalism, none of the above, etc – you can be creative)? What have been the major turning points in its evolution, and what explains the supremacy of this attitude? Your answer to this question should make a compelling case for one way for interpreting the prevailing views and structures across American history (even if your argument is that there is no central view) but can/should acknowledge points at which those views and structures were challenged.

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