Market Economy vs Command Economy Essay
The more central control there is in an economy the less incentive there is for a person to work. If you will always get the same pay, the same benefits, and the same amount of vacation why would you bother to do something challenging? It would be easier to just half heartedly perform menial labor for the rest of your life that it would be to work hard and become an astronaut or a CEO.
The less control there is the more chances there are for inequality. Lots of people won’t have an education and healthcare. Everyone will always be fighting for more, and some people will invariably be crushed beneath the tides.
It's a balancing act of incentives and disincentives.In response to the comment posted by encol:
During his tenure as US president Roosevelt implemented a number of economic reforms, and although labled 'liberl reforms' they were in fact social reforms (relative to the usual american market economy of course). After WW2 we also saw from Britian a number of socialist reforms, such as the NHS and increased benefits for the unemployed. What you say is true about the greater number of incentives to work within a market economy, but how is it that despite socialist