U.S. Economy

When considering the advantages and disadvantages of command and market economies, you may notice that they are usually straight forward, yet, both advantages and disadvantages may merge at times, resulting in an unclear issue, that could be debatable whether it is for the good of the society, or for the government. Therefore, what I am trying to say is that no matter how hard you try, it is always impossible to debate on which economic system is better. Both have their good points and their bad, but each is aimed towards a community that will make use of it. This community has usually got a majority of people either rich or poor, and social class usually affects the way people may choose their government.

In a market economy, the advantages are normally aimed towards the middle/upper class in a community. This is why we normally find them in richer communities (i.e. England, USA). The concept of a market economy is to allow people to get through life by themselves. Government usually does little to change the economy, and, the control is given to the people with the money, or, rather, the people with the businesses. The main people in such an economy are usually the consumers, the producers, the owners of private property, and, the government. These are the people with the power. The whole system revolves around private gain rather than the interests of everyone in a community. Since the rich are in control of the economy, their decisions result in the rich getting richer and the poor getting poorer. This is a perfect example of what I mentioned before, which is the way that you cannot categorize all statements. This would be an advantage for the rich, but a disadvantage for the poor. However, governments may also affect the situation, resulting in the rich getting richer, and, the poor managing to stay alive.

The entire idea of the market economy is freedom. The freedom for people to do what they want, make what they want, and, sell what they want (to a certain extent). This can also be described as being able to decide WHAT is going to be produced (what products), HOW it is going to be produced (organization, etc.) and FOR WHOM it is going to be produced. This is definitely an advantage, as freedom and rights are allowed. Besides this, the norm is that you're wage is affected by the amount you work. The harder a person works, the more you would expect to get paid. This is another advantage, since people are paid by the amount they work: a lot of work results in a high outcome, and a high income for the person. This is an incentive to work too, since, the point stated previously can affect a person negatively, since not enough work can result in pay cuts or, even job losses.

Since the economy is controlled by the