[SuchFriendsAreDangerous]

You blend a bit like the Vietnamese, integrate certain principles of free-market capitalism and yet have strict regulation and state control of the industries more inclined towards greed. There are two fundamental flaws with both polar economic philosophies.

Pure market capitalism inevitable eats and consumes itself into pure greed, hence the gilded age of robber barons.

Pure Marxist/Socialist control of the the economy destroys all incentives for increased production, by the way, in the same similar way the feudalism did, if individual producers have not individual incentive, they will only produce as much as is asked, no more, often much less. Under feudalism, the landlord takes all the profit, so the producers had little incentive to produce anymore than was required, because any excess profit will be taken as well. Communism is similar in the economic sense, so a syncretic blend of both is needed. I say the US system is a decent model of a blend of Marxist economic policies like subsidies, regulation, and state-control of key industries, however it needs a bit MORE Marxist push in social policy because some of the negative aspects of free-marked capitalism such as greed, hording, and corruption are still highly prevalent. Essentially, our economic culture in America supports greed, and this needs to be changed more so than any of our governmental economic policies..

So again, to answer to question, Marxism works when blended with elements of free-market capitalism such as well-regulated incentive programs..