The Pros And Cons Of Market Economies

Economies today are what make our own little world go round. They drive our societies, fuel our growth, and influence our culture. Economies, just like a living breathing thing, evolve and change with time. They evolve to better suit the needs of the people in it. Originally, like primitive man, economies were primitive. They relied on trading and tradition. However, overtime they evolved with man into many distinct and similar types. Just a sample of these types are Command and Mixed Market Economies. As is with evolution, though, is one better than the other in the aspects of opportunity and stability?

Command Economies are definitely a dying breed; but, they do get the job done nonetheless. They come about from government control.

Which is a drastic difference from it’s 2009 rate of 10.0%. This only shows the unsteadiness of the economy. If one thing falls out of balance, or one stock falls a certain amount, or even if a certain stock rises too much in value, everything falls out of whack and there is no telling where it might go. You might end up homeless because the company you work for is having to make cut-backs to stay alive, and you happened to be one of them. The poverty rate in the United States (as of 2016) is 12.7%. That’s 43.1 million people living in poverty, devoid of a lot of opportunities. It is a sad truth, but, poverty breeds poverty. Once an area becomes impoverished it is hard to get it back to that nirvana of standard living. Not only that, but, the longer the area is in poverty the larger the area gets. Most people don’t want to live in or next to poverty, so property values plummet in that area; which attracts people who could not normally afford to buy a house because they don’t make enough money; which further expands the area where poverty resides repeating the process over and over again. However, due to the nature of Mixed Market economies, they have elements of other economies, such as those of communist or socialism, that try to stop that process. Such as Welfare, or limited government control on goods to attempt to keep the economy stable. There are little promises in a Mixed Market economy; but there are loads of opportunities to take advantage of that, for many people, make the risks worth it. You might end up unemployed, or homeless, but there are institutions, both government and civilian made, to help you live a better life and get back on your feet- which are most often in Mixed Market economies. Places such as the United Kingdom or Canada have free health care, which is a huge boost to their standard of living. Plus, with little government control, the personal and cultural