We have state run capitalism, just like China. Taxpayer money is used for research in the big money fields, like computer technology and pharmaceuticals. So for example, the National Institute of Health uses tax money to research a drug to fight some disease. The tax payers pay for the research, then the government turns over the drug over to venture capitalists, who are all very well connected to government. Then companies like Pfizer and Merck sell the medicine for 50 to 100 times the production costs, and of course give enormous contributions to political groups and campaigns who then give them special patents and little to no price controls. Same with computers. The government made computers, back in WW2 they were using computer databases in the war and had mainframes that of course were paid for with tax dollars. Then they let the venture capitalists take over the personal computer market and we got Bill Gates and the like. But Gates just updated software from DOS that the taxpayers paid for for government research. So the innovation part is really the unfair part of the American capitalist deal. Yes it exists for little time Capitalists, who invent a new product and become millionaires, but the BIG time 1% type of money, multi billionaire money, is a collaboration between government and big business, with each paying each other. It's the same system that China has, and why China has just about as many private, capitalist billionaires as we do, despite being communist.
