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What are some countries that use a free market economy?
I just need the name of like one or two countries that use a free market economy. thanks!
Public Comments
- Their are none. The US claims to be however look at all the Gov. subsidies to all the business and farmers.
- In reality, no such thing exists. The term 'free market' economy is just used to describe an economy where consumers voice their demands, and producers respond accordingly, which is how prices are set. If a market was completely free, there would be no government intervention, and therefore no such things as taxes would exist, which pay for public goods like street lights, public transport, and other things such as unemployment benefit, etc. Although there are some countries that have more free-market oriented characteristics than others, no country has an absolutely free market economy, certainly not to my knowledge anyway. This is just used as a framework to help us gain a further insight into how markets work. Hope this helps you.
