The strengths of the market economy represent how our country thrives and prospers. I found that when the US allows businesses to make their own decisions without government interference, there is a higher degree of consumer satisfaction. In addition, the market economy also provides companies the ability to produce an incredible variety of goods and services, which allows businesses to flourish. In my opinion, I believe that the market economy is the best economic system for a country. I have discovered that there are more advantages than disadvantages with this system. Now let's look at some disadvantages of a market economy.
A disadvantage of a market economy is that it rewards only productive resources. Those who are too young, old, or sick are not provided employment. This can create a hole in the US economy. I do not like this idea of Americans unable to work because of their old age. Another disadvantage of the market economy is that individual businesses must be on guard against market failures in order to prevent bankruptcy. Small businesses drive a part of the economy, and without them, large businesses would conquer the smaller businesses, thus taking control of the economy. This is not healthy for the stock market, nor the economy.
Without small businesses, how will our country represent individualism and truly demonstrate a market economy?
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