"A political and economic theory of social organization that advocates that the means of production, distribution and exchange should be owned or regulated by the community as a whole".
Most countries are like that, the US and European countries included: those countries own the means of exchange (they decree the fiat money they own as the only legal currency) and they regulate the means of production and distribution (exacting taxes and benefiting cronies).
Moreover, what those countries have is definitely not Capitalism, because capital comes from savings and most (all?) of those countries have a trade deficit (even major exporters) which means whatever game it seems to be they're playing amongst each other isn't the usual praxeological capitalism where both parties profit from a trade. Right now they're playing a game called QE, with Japan winning (which means, losing).
"A political and economic theory of social organization that advocates that the means of production, distribution and exchange should be owned or regulated by the community as a whole".
Most countries are like that, the US and European countries included: those countries own the means of exchange (they decree the fiat money they own as the only legal currency) and they regulate the means of production and distribution (exacting taxes and benefiting cronies).
Moreover, what those countries have is definitely not Capitalism, because capital comes from savings and most (all?) of those countries have a trade deficit (even major exporters) which means whatever game it seems to be they're playing amongst each other isn't the usual praxeological capitalism where both parties profit from a trade. Right now they're playing a game called QE, with Japan winning (which means, losing).