Mixed Economies In Canada

Which is better Mixed economies or Market economies, this has been a question for many years. In this essay I will discuss disadvantages and advantages of both Mixed and Market. Then based on this information I will discuss whether or not Canada should become a Market economy as well.

With a Mixed economy, it is left partly to the free market and is also run partly by the government. So, with this economy the government can intervene if the economy starts to falter. Furthermore this economy incorporates both cooperation and competition, this helps keep it balanced and it helps businesses including, small businesses to strive for better quality goods so that the general public is happier with what they are getting. This economy also includes Welfare/Social security to its people so that they, in general have a better quality of life. This equal balance also allows for the government to subside from business. However this type of economy also has some downfalls to it. This economy has higher taxes along with increased government debt. Of course this means that we still have poor and homeless. …show more content…
Governments see Market economies as the best to allocate scarce resources. In addition Market economies allow for competition so that individual business owners have a driving force to make better quality and lower priced goods for consumers. Comparatively, this helps promote individualism in products and is a preventative of monopolies, this creates profit motive which goes hand in hand with self reliance. Although these can also create a dog-eat-dog world, making a huge gap between the rich and the poor. This can corrupt people and make them greedy and materialistic. Furthermore this means there is no welfare safety net and no government to help if things start to