What are the main features of the traditional American free market economy

①Free competition. The main body of economic operation is a large number of small private enterprises, production and business decisions are made by private capitalists in accordance with the market supply and demand conditions. Private capitalists are free to participate in or withdraw from the economic activities of various industries; the formation of prices in the market is spontaneous, it reflects the changes in supply and demand conditions, can be allocated to the producers of scarce resources, but also to the allocation of goods and services to consumers; free competition between enterprises. ② Consumer sovereignty. Consumers are also the main body of economic operation. Consumer sovereignty suggests that: private capitalists must base and take into account consumer preferences when coordinating production and business decisions. According to the number of consumers in the market "monetary votes", to understand the social consumption trends and movements, and based on this, the allocation of human, material and financial resources, production and meet the needs of consumers, to achieve the purpose of maximizing profits. Consumers also play a role in guiding economic activities through their preferences for certain goods and services. (iii) The vocation of the government is to be the "night watchman". Laissez-faire economic activities and the allocation of resources is driven entirely by the market mechanism, the state or the government's economic functions are limited to the protection of free competition, the protection of private property, the establishment of certain necessary public **** cause and public **** facilities.