The U.S. is a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces economic freedom when it comes to capital use, but it also allows for government intervention for the public good.
Which countries are socialist?
Country Since Party
-------------------------------- ---------------- --------------------------------
People's Republic of China 1 October 1949 Communist Party of China
Republic of Cuba 1 January 1959 Communist Party of Cuba
Lao People's Democratic Republic 2 December 1975 Lao People's Revolutionary Party
Socialist Republic of Vietnam 2 September 1945 Communist Party of Vietnam