Abstract
The first question relating to the title of this chapter is: what makes a market economy? In a nutshell, the answer is the six freedoms: freedom to enter the market, engage in competition, exit the market, set prices, make profits and, eventually, freedom to fail. There are, of course, other basic characteristics of a market economy, such as the need for market sensitivity, customer orientation, and rapid deliverables from research and development (R&D).
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Notes
D.N. Chorafas, Alternative Investments and the Mismanagement of Risk, Palgrave Macmillan, Basingstoke, 2003.
D.N. Chorafas, Managing Risk in the New Economy, New York Institute of Finance, New York, 2001.
D.N. Chorafas, The Realtime Enterprise, Auerbach, New York, 2005.
D.N. Chorafas, Stress Testing. Risk Management Strategies for Extreme Events, Euromoney, London, 2003.
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© 2004 Demitris N. Chorafas
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Chorafas, D.N. (2004). Corporate Governance in a Market Economy. In: Corporate Accountability. Palgrave Macmillan, London. https://doi.org/10.1057/9780230508958_2
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DOI: https://doi.org/10.1057/9780230508958_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-51535-6
Online ISBN: 978-0-230-50895-8
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