Anglo-Saxon economic model

E126614

The Anglo-Saxon economic model is a liberal, market-oriented system characterized by relatively low regulation, flexible labor markets, and a limited welfare state compared to more social-democratic models.

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Label Occurrences
Anglo-Saxon economic model canonical 1

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Statements (59)

Predicate Object
instanceOf economic model ⓘ
macroeconomic policy regime ⓘ
emergedIn late 20th century policy debates ⓘ
hasCharacteristic activation policies encouraging rapid return to work ⓘ
decentralized wage bargaining ⓘ
emphasis on competition policy over industrial policy ⓘ
emphasis on deregulation ⓘ
emphasis on free trade and openness to international capital flows ⓘ
emphasis on individual responsibility ⓘ
emphasis on labor market flexibility over job protection ⓘ
emphasis on means-tested social benefits ⓘ
emphasis on monetary stability and low inflation ⓘ
emphasis on shareholder value ⓘ
encouragement of entrepreneurship and start-ups ⓘ
fiscal policy focused on budget discipline and low deficits ⓘ
flexible labor markets ⓘ
greater wage dispersion ⓘ
high degree of financial market liberalization ⓘ
high degree of product market competition ⓘ
liberal market orientation ⓘ
limited employment protection legislation ⓘ
limited employment-based social insurance ⓘ
limited role for corporatist arrangements ⓘ
limited role for national-level social partnership agreements ⓘ
limited sectoral bargaining ⓘ
limited state ownership in the economy ⓘ
limited use of price controls ⓘ
limited welfare state ⓘ
policy discourse emphasizing efficiency over equity ⓘ
policy discourse emphasizing market solutions over state intervention ⓘ
policy discourse influenced by neoliberal ideas ⓘ
preference for market-based allocation of resources ⓘ
preference for privatization of state-owned enterprises ⓘ
prevalence of flexible and atypical employment contracts ⓘ
relatively high income inequality compared to Nordic and continental models ⓘ
relatively light business regulation ⓘ
relatively low employment security ⓘ
relatively low minimum wage levels in some adopting countries ⓘ
relatively low public social spending as share of GDP ⓘ
relatively low state regulation of markets ⓘ
relatively low taxation compared to social-democratic models ⓘ
relatively small public sector compared to GDP ⓘ
relatively weak trade union power compared to coordinated market economies ⓘ
reliance on private pensions and private health insurance in some countries ⓘ
residual welfare state focused on poverty relief rather than universalism ⓘ
short-term profit orientation in corporate governance ⓘ
strong legal enforcement of contracts ⓘ
strong protection of private property rights ⓘ
strong role for capital markets in corporate finance ⓘ
use of independent central banks for monetary policy ⓘ
isAssociatedWith United Kingdom economic system ⓘ
United States economic system ⓘ
other English-speaking economies in some classifications ⓘ
isContrastedWith Nordic social-democratic economic model ⓘ
continental European coordinated market economy model ⓘ
isInfluencedBy classical liberal economic thought ⓘ
neoliberal economic thought ⓘ
isUsedIn comparative political economy literature ⓘ
welfare state regime typologies ⓘ

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Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.

Nordic model → contrastsWith → Anglo-Saxon economic model ⓘ