Should Canada Create A Mixed Economy Essay

Should Canada change their economy to better reflect the United States’ economy?

No Canada should not change their economy from a mixed economy to a more market economy to better reflect the United States. With Canada currently having a mixed economy, which is a particular mix between a public and a private economy. For Canada to change their economy to reflect a market economy, like the United States. Because changing from a mixed to a market economy would promote quick economic development, it creates a balance in regional developments, and it encourages a lower income inequality. One of the reasons Canada should remain a mixed economy, is because by having a mixed economy it promotes economic development. “Economic development’’ which is the process in which a community improves the economy, and social well-being of its people.” (Wikipedia) Since both public and private businesses can operate equally the possibility for economic growth is prominent. It also creates a supply and a model where demand for products is high therefore it create the necessary materials needed to make even more profit …show more content…
Mixed economies stop the rich from getting wealthier, and the poor from getting poorer. With the balance of public and private businesses, there would not be an overwhelming amount of private businesses taking advantage of people to get wealthier. Companies would not be able to monopolize on those who can not get richer, and the lower class would have a chance to improve their social well-being. With the abundance of equal wealth, it can also be put in social services to better the lives of those who are still at a wealth imbalance. Society as Canadians know it would be more innovative, economic and industrial, benefiting everyone, as well as increasing quality of