Market Economies

Down with communism!    (Insert conservative title about markets here)   

There are command economies such as North Korea and Soviet Russia, mixed economies such as Sweden and (brace yourself) the USA and although there is no such thing as a true free market economies; some do come close such as Hong Kong. Now it may be hard to believe that the 'home of the free and the land of the brave' ranks behind economies such as New Zealand and Singapore on the 'free market' scale but apparently us Americans aren't as free as we'd like you to believe. Saying that, a mixed economy is often viewed as the most stable and reliant option for a nation to have. Despite the recession the mixed economies of the USA and UK have shown a fair amount of resilience compared to their free market counterparts. Of course the command markets of communist countries fair better but I'm certainly not queueing up to move to North Korea..

Free market economies are economies in which the government plays no role in the market whatsoever and it is entirely in the hands of consumers and their whims, however free market economies eliminate the risk of government failure, *cough* George Osborne *cough* Mixed market economies can have any mix of government and consumer involvement varying from country to country, these types of economies allow the government indirect control over some sections of the market in order to prevent economic downturn. Which has obviously worked really well if you look at the state of the current economy...  Command market economies are economies in which the government has entire control over the market making everyone and everything equal and in doing so hoping to prevent any economic problems that could arise from the freedom of market.