For market economies to function efficiently, governments must establish clearly defined and enforceable
Market … See more

Capitalism is an economic system where the means of production are largely or entirely privately owned and operated for a profit, structured on the process of capital accumulation. In general, in capitalist systems in… See more

Market socialism is a form of market economy where the means of production are socially owned. In a market socialist economy, firms operate according to the rules of supply and demand and operate to maximize p… See more

A wide range of philosophers and theologians have linked market economies to concepts from monotheistic religions. Michael Novak described capitalism as being closely related to Catholicism, but Max Weber drew … See more

The economist Joseph Stiglitz argues that markets suffer from informational inefficiency and the presumed efficiency of markets stems from the faulty assumptions of neoclassical welfare economics, particularly … See more

Supply and demand play an instrumental role in driving market economies by setting both prices and quantities traded in markets. Supply is defined as any increase in price leading to an increase in supply from produ… See more

A sustainable market economy seeks to balance economic expansion and environmental preservation. It acknowledges that sustainable environmental protection and resource manageme… See more