Advantages Of A Liberal Market Economy Essay

1776 Words Dec 14th, 2016 8 Pages
When comparing countries that utilize a Liberal Market Economy and countries that use a Coordinated Market Economy, it is clear that each type has its own advantages, but the advantages are not equal in magnitude. Coordinated Market Economies provide more equality for workers and ensure that everyone’s voice matters when discussing important decisions. Conversely, Liberal Market Economies are less equal and tend to benefit less people. Many believe this to be a result of political structure. Furthermore, CMEs afford everyone the opportunity to advance in some skills due to extensive training, while many people in LMEs fail to receive such training. This stems from CMEs and LMEs focusing on different types of skill development. Ultimately, CMEs ensure greater job security via training and coordination; however, one could also consider this a weakness from the LME point of view. From the LME perspective this characteristic hinders business and progress. While this is true, the equality, job security, and investment in skills inherent in Coordinated Market Economies provide a more stable economy that benefits a wider array of people. One of the biggest differences between both types of Capitalism comes from the emphasis on equality that CMEs possess versus the increased autonomy of businesses inherent in LMEs. The nature of CMEs enables more people to influence decisions and prevents one group from dominating a particular course of action. This in turn helps everyone to…

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