Market-Based Economic Systems and Welfare Arrangements

Economic systems and doctrines in which private ownership, markets and prices coordinate most production, together with the welfare arrangements that states have built around market economies. An entry belongs here when its cited source describes an economy organized mainly through private property and exchange, or a system of public provision such as pensions, health care and income support that operates alongside a market economy. The group covers both the doctrine of minimal state interference and the practice of states that tax and spend to protect citizens from market risks, so a reader can compare how different arrangements divide economic decisions between markets and the public sector.