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social science subjects > economics > economic systems > capitalism > liberal market economy
... > social science subjects > politics and international relations > political science > comparative politics > economic systems > capitalism > liberal market economy
... > social science subjects > sociology > social theory > macrosociological theories > capitalism > liberal market economy
... > social science subjects > economics > economic concepts > political economy > capitalism > liberal market economy
... > social science subjects > politics and international relations > political science > political economy > capitalism > liberal market economy

Preferred term

liberal market economy  

Definition

  • According to the approach laid out by Peter Hall and David Soskice in their research on the “varieties of capitalism,” liberal market economies (LMEs) are national economies that display a high share of competitive market arrangements in the governance of company relations. LMEs feature institutional arrangements that allow actors to pursue individual unconstrained strategies, often by matching demand and supply through relative prices. [Source: Encyclopedia of Governance; Liberal Market Economy]

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https://concepts.sagepub.com/social-science/concept/liberal_market_economy

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