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MEH / A New Age Economic Model: Anju Babu Jeetinder Khubchandani Manoj Kumar Mohapatra Sumit Kumar Samudra K Mukherji
MEH / A New Age Economic Model: Anju Babu Jeetinder Khubchandani Manoj Kumar Mohapatra Sumit Kumar Samudra K Mukherji
model
Anju Babu
Jeetinder Khubchandani
Manoj Kumar Mohapatra
Sumit Kumar
Samudra K Mukherji
Jeetinder Khubchandani
G15084
A market economy where competition primarily determines the prices, production and
distribution of goods
What is good:
Gives Economic freedom to consumer, producer, and resource owner
Minimal Influence of governing laws
Firms are innovative and efficient
Consumer has a larger say
What needs to be addressed:
Monopoly and Monopsony power of firms
Ignorance towards environment
Inequitable distribution of wealth
Sumit Kumar
Discard
Autocracy and stifling of citizens opinions
Corruption at the Centre
Nordic System
A synthesis of opposites; A welfare state that is based on the concept of
capitalism, free trade and a massive state sponsored benefits program.
Public provision of social services funded by taxes. (Tax burden one of the
highest in the world)
Free market capitalism and globalization; companies have a high degree of
ease of doing business
Low productivity and low levels of entrepreneurship
Aging population is a significant problem