Proposed by Adam Smith in 1776, this economic philosophy became a driving force in the development of the US economy. Private ownership of businesses defines capitalism, which encourages competition and little social assistance. As the text illustrates, capitalism has been a defining force throughout American history, as the US has become the philosophy’s primary proponent.

This dominant American political philosophy is characterized by minimal interference by the federal government, low taxation, and old-fashioned social structures. American conservatism often favors traditional Christian values, although it has been defined in various ways throughout the country’s history. The dichotomy between conservative and liberal values has always been a defining feature of US politics.

This political philosophy is related to colonialism but focuses more on gaining economic and political influence in foreign lands than on establishing large populations there. Many view US attempts to exert control in Asia, Latin America, the Middle East, and elsewhere as imperialist ventures. Critics of US foreign policy throughout the country’s history accused it of favoring imperialistic tactics, while the internal fight between isolationism and intervention is more broadly a struggle over the value of imperialism.