The free market system of capitalism was defended in the book the wealth of nations by adam smith start studying chapter 25 section 4 learn vocabulary terms and more with flashcards games and other study tools the free market system of capitalism was defended in the book the wealth of nations by . With the above said the basic concept that america has a capitalist economic system becomes obvious when you read the definitions of capitalism and socialism capitalism an economic and political system in which a countrys trade and industry are controlled by private owners for profit rather than by the state the focus is on maximizing . One metaphor responsible for a great deal of confusion is that of wealth as a pie a metaphor that shows up again and again in debates over income inequality no matter how you slice it when it comes to income and wealth in america the rich get most of the pie and the rest get the leftovers writes a critic of income inequality. Capital in the twenty first century is a 2013 book by french economist thomas piketty it focuses on wealth and income inequality in europe and the united states since the 18th century it was initially published in french as le capital au xxie siecle in august 2013 an english translation by arthur goldhammer followed in april 2014
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