Anglo-Saxon model
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The Anglo-Saxon model or Anglo-Saxon capitalism (so called because it is practiced in English-speaking countries such as the United Kingdom, the United States, Canada, New Zealand, Australia and Ireland) is a capitalist model that emerged in the 1970s based on the Chicago school of economics. However, its origins date to the 18th century in the United Kingdom under the ideas of the classical economist Adam Smith.
Characteristics of this model include low levels of regulation and taxes and the public sector providing very few services. It can also mean strong private property rights, contract enforcement, and overall ease of doing business as well as low barriers to free trade.
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See also
- American School
- Bretton Woods system
- Economic liberalism
- Free market
- German model
- Nordic model
- Protestant work ethic
- Types of capitalism
- Varieties of Capitalism
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