In the past three decades, some countries have relaxed regulations and have privatized government owned enterprises. The results have been mixed that is these economies have grown faster but wealth and income inequality
have increased. The United States that has been the leading proponent of such economic system itself has encountered problems of worsening income inequality
, financial crisis and reversed privatization by having to take over two government-sponsored enterprises (Fannie Mea and Freddie Mac). Do you think transition to free market economy system as is in the US should be continued despite its problems of income inequality
and occasional economic crisis?
State in the essay, where you found the information.
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