Should Canada become a market economy like America? Or should it remain mixed? In this essay i will be explaining my personal opinion on if I think Canada should be a mixed economy or a market economy and why. I will go over a mixed economy as well as a market economy. Not to mention a few advantages and disadvantages of both, market and mixed economies. With this in mind i hope you enjoy my essay. A Market economy can also be known as a “free market”, the “Invisible hand”, “Laissez-Faire” as well as many others. There are many advantages to this such as self reliance witch is designed to eliminate “lazy” people. As well as lower prices, better quality products, and more variety. Not only that but there is also individualism and competition. But there is also disadvantages such as large gaps between rich and poor people there is also no social safety net for an example welfare. This type of economy can also create greedy, materialistic people where the saying “Dog-eat-dog-society” is based on. Lastly there is no government for the people and that leaves them to make a lot of decisions on their own. This is the way America is ran. …show more content…
Unlike a market economy a mixed economy has social security and welfare such as child tax benefit, employment insurance, pension, and health care. There is also collective bargaining to allow for unions, and government subsidies for business. But also like all types of economies there are disadvantages such as higher taxes to help pay for all these benefits as well as increased government debt. And as one of the more saddening problems they still have the poor and