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Looking from the outside, what the US has lacked is the “strong regulation” part.
In my opinion the US is way too far on the capitalist side of the slider, you are not at “pure capitalism” yet. But sometimes it doesn’t seem like you have far to go.
Private prisons are just a ridiculous, over reach of profit making into what is at its core a social problem that requires social solutions.
I can totally get that perspective. From here looking at countries in Europe move in our direction makes me think that allowing a little bit of the capitalist corruption in makes your system susceptible to slowly being consumed(deregulated and welfare state gutted).
I’m not too familiar with New Zealand politics but I’m sure they’re a hell of a lot better than ours lol.
It has gotten worse since trump showed that the truth is optional for politics.
But yes, still better.