The Organization as a Market Economy

Abstract The Problems Created by Nonmarket Economies Today, a number of countries are trying to convert from a centrally planned and centrally controlled economy to a market economy. Not one national economy that is centrally planned and controlled has ever attained as high a level of economic development as has been attained by national market economies. Of course, not every national market economy has flourished, but every national economy that has flourished has been a market economy. Therefore, for nations, a market economy appears to be necessary though not sufficient to attain a high level of economic development.