The end of the market economy?
Several recent trends in economies point to, if not an end to , at least a decline of the market economy. For example: Central banks' control of an increasing number of asset prices; these prices no longer reflect the fundamentals of the issuers of the se assets; The insufficiency of price signals and market mechanisms to meet climate targets, and the need for regulations, obligations and bans; Pro-active reshoring of production, which is inefficient from a market economy viewpoint; The rise of economic nationalism and protectionism, and therefore the reduced use of comparative advantages. Of course, there were already many features of OECD countries that were driving them away from the market economy (labour market rules, regulated prices, etc.), but these tendencies are moving OECD countries even further away from the market economy.