What are the pros and cons of a free market economy?

A free market economy allows supply and demand and personal choice to guide it. Find out the pros and cons of this system and which countries adhere most to its purest form. A free market economy allows supply and demand and personal choice to guide it. Find out the pros and cons of this system and which countries adhere most to its purest form.

Does a free market economy increase or reduce economic inequality?

In a free market there are converging and diverging forces which may increase or reduce economic inequality. We discuss the pros and cons of free market economy and whether allocative efficiency justifies growing inequality.

Is the US a free-market economy?

Learn More → Free Market (Econlib) Globally, the U.S. is regarded as one of the leading free-market economies with minimal governmental intervention. Nonetheless, there still are some aspects of the U.S. government where the central government plays a critical role, which was seen during the COVID-19 pandemic.