quora
Nobody downloaded yet

Liberal market economy - Essay Example

Comments (0) Cite this document
Summary
Liberal Market Economy Concept Note The liberal market economy is an economic situation in a country where there is minimum interference of the government in the market. The capitalistic economies are generally referred as the liberal market economy. The US economy, known for its capital economy, is also referred as the liberal market economy…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.9% of users find it useful
Liberal market economy
Read TextPreview

Extract of sample
"Liberal market economy"

Download file to see previous pages According to Maurice Mullard, there is a linkage between the commitment to liberal democracy and the concept of market liberal economies. The democracy and market economy are linked with each other. In a democratic country, the policy guarantees the people to choose the government. Similarly, the liberal market economy provides choices in employment, consumer products, education facility and provisions of health. The democracy cannot survive without any commitment towards a market economy and the market economy cannot survive outside the political democracy (Mullard, 2004). The liberal market economy has the potential to outperform the capital economy. The social environmental factors of a liberal market economy are highly influenced through the nature of autonomous work of the economy itself (Pagano & World Institute for Development Economics Research, 1996). The US and the UK economies are strongly anti-trust regulations that forbid the firm’s entrance to financial credit and capital markets that are driven by profitability and expectations of the market. The liberal market economy strongly follows the philosophy of neo-classical economics in which the firms function in a ‘perfectly competitive’ market and are determined by the short term profits (Deller, 2005). The economist Bennet Harrison and David Gordon viewed that the firms in the US and the UK in the liberal market economy reduces the costs to increase the profit margin in the short run. In a coordinated market economy, firms increase the profit margin through the enhanced productivity, technical advancements and labour training methods. The liberal market economy in view to the bankruptcy as a legitimate business strategy differentiates from coordinated market economies. In the US market, firms use the bankruptcy business strategy as an option to negotiate the labours’ and the suppliers’ contract. The best example was the United Airlines that used this strategy and restructured itself in reducing the costs (Deller, 2005). This kind of strategy has become well known for the motive of short run profitability that has increased the gap between the primary and secondary labour market conditions. A study conducted by Dirk Akkermansa, Carolina Castaldi and Bart Losc found out that liberal market economy and coordinated market economy comprise diversity economies that illustrate varied patterns of specialisation and in comparison, they are quite heterogeneous across the industries. The scholars have concluded that the liberal market economy approximately specialises in essential innovations in industries that are related to electronics and chemicals while the coordinated market economies concentrate on transport equipment industry and machinery industry (Akkermansa & Et. Al., 2008). According to Marijana Milic, the liberal market economy follows the philosophy that assists in promoting laissez-faire capitalism, maximum of free trade and competition. The liberal market economy provides rights and freedom to every country in order to enhance the development of the economy according to the supply and demand forces of that country (Milic, 2010). The liberal market economy has a representative relationship with the states and offers special treatment to the big corporations in concentration of economic power. This influences the people in general due to the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Liberal market economy Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1409575-liberal-market-economy
(Liberal Market Economy Essay Example | Topics and Well Written Essays - 1000 Words)
https://studentshare.org/environmental-studies/1409575-liberal-market-economy.
“Liberal Market Economy Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/environmental-studies/1409575-liberal-market-economy.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Friedman and Hayek's neo-liberal political economy
The present study would focus on neoliberal political economy is central to safeguarding the market as an instrument of ensuring distribution of societal goods. It ensures that the market largely regulates itself without artificial and state interruptions through regulations, legislations and policies that may jeopardize market growth.
8 Pages(2000 words)Research Paper
Comparative Analysis of Free Market Economy and Mixed Economy
This essay primarily focuses on the identification of the distinctive features of two most common economic system in the world. Free market is an economic system that is determined by the price mechanism. A mixed economy is a combination of a free market and planned economies. Free market economy is deemed more effective compared to a mixed type.
4 Pages(1000 words)Essay
To what extent does the variety of capitalism prevailing in a particular economy determine the choice of HR policies by organisations in that economy Give re
In spite of the fact that companies are at liberty to describe and enforce their own HR policies as they wish to, it can be seen that the way the economy functions and the variety of capitalism used in the country
8 Pages(2000 words)Essay
Liberal Government 1906-1914
Even till today, the victory of the Liberal Party in 1906 elections is considered to be the most remarkable reversal of electoral trend. Along with few other notable modern elections, particularly the ones of 1945 and 1979; the general elections of 1906 joins the list of the events that are considered as the turning points in British politics.
8 Pages(2000 words)Essay
What is Liberal
ome conceptual confusion over what terms in the political lexicon one can use to describe a man like Friedman who held libertarian (fiscally conservative, socially liberal) political views throughout his established career. The tendency to want to call a man like Friedman a
4 Pages(1000 words)Essay
Neo-Liberal World Order and Economy of the Developed World: A Shift in the Business Model
It will use models to explain how theories put forward in its support have failed to sufficiently explain how the countries will benefit from the new world order economically. Putting the theories into practice has proved being infeasible
6 Pages(1500 words)Essay
Is One Experience Enough
Patriotism to the country comes naturally especially after comparing it to the hundreds of other countries throughout the world. The U.S is the only country that shows concern over the
4 Pages(1000 words)Essay
Economic liberals argue that ecomonic exchange is a positive-sun game
Majority of the economists and academics have already posited that it is, in fact, the most effective economic model to date and, unarguably, the most widely used. There are several schools that analyze this phenomenon. Two of the most important are the liberal and the Marxist schools.
6 Pages(1500 words)Essay
Market Economy
Market Economy Market economy insinuates the relationship between the quantity of goods in demand, and their pricing according to Altvater (1993). With such factors in consideration, the market will have to shape its demand for the products in the market depending on the prevailing prices.
5 Pages(1250 words)Essay
Firms in Context to Liberal and Coordinated Market Economies
Different countries have implemented different setups of economies, most popular one in this regard are capitalism and socialism (Lipset, 1993). Capitalism can be further divided into various types (Fukuyama, 1992). Hall and Soskice (2001), after conducting thorough study and researches on the concept of varieties of capitalism, came up with two new typologies named liberal market economies and coordinated market economies.
8 Pages(2000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Liberal market economy for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us