Many people have started to badmouth the United States, but the real problems lie only in certain actions by Washington—its business sector remains quite vibrant. Criticism of Europe mostly targets welfare statism; the business world itself is rarely attacked. Similarly, China's business sector, even amid capital flight, is still performing quite well.
The success of capitalism (or, conversely, the failure of communism and welfarism) has been repeatedly confirmed over the past half-century. Nobel Prizes in Economics have largely been awarded for work in this area since around that time. This set of ideas traces back to Adam Smith, but it was not until the latter half of the 19th century that it was mathematically refined. Léon Walras introduced his concept of equilibrium:
1.Feasibility: the total allocation must equal the total endowment:
$\sum x_i = \sum \omega_i$
