ABSTRACT
This chapter explains the term free market economy (FME) is often used to describe the US economy by the typical news media, particularly if a corporate executive, consultant or orthodox economist is being interviewed. It argues that in reality the US economy has evolved into something quite different corporate welfare economy (CWE) characteristics. The US economy is described as if it were an FME, with no alternative considered. The American public has been bombarded with hypocritical messages, namely that the US economy is an FME and that an FME is the only alternative. The concentration of media ownership has also increased as a higher proportion of major media is now owned and controlled by a few very conservative individuals or corporations. In regard to the Wall Street Washington DC nexus one observer commented during a Bill Moyers interview that policy makers in Washington DC loaded the dice, and then the Wall Street investment bankers rolled them much to their favor.
