Rockzmom, I read about it in school and uni. It seems like a very good system. As you know I complain a lot about the US, I think the system itself is probably very good and democratic, with lots of clever built-in controls etc. It's probably one of the best systems around, and fitted to the unique situation of a country as large and diverse as the USA.
The trouble in my opinion is that it is run by money/corporations, i.e. the politicians are either bought by their campaign sponsors, or in some other way, by lobbyists. People are sold on "the American dream" by media, and imagine that hardcore capitalism will get them the type of lifestyle they see in soap operas and Hollywood films. But in reality it's not attainable for most people.
I think that is the reason why the US does things which citizens probably wouldn't agree with if they looked at what's truly in their best interest. (Like go and invade countries on the other side of the planet).