this sounds like capitalism
well there's a spectrum of capitalism. you have unregulated capitalism, which was essentially 1800s child labor. you have regulated capitalism, which i guess you could consider communism to be part of. then you have mixed economy, which is a perfect balance of both, where regulations are set for mutual benefit of workers, civilians, and businesses. Right now the US is somewhat tilted towards the unregulated side
deregulate capitalism for too long and the opportunists will seize control and turn it into the other side, regulated capitalism. stay regulated for too long and people will rise up and fight against it, trying to turn it into some pseudo libertarian deregulated capitalism again. ideally, a mixed economy will adapt to current events, ie will become more regulated during wartime, unregulated during peacetime, which is why it's the most versatile and sustainable