What are the advantages and disadvantages of a market economy?

The advantages of a market economy are primarily related to efficiency. Since businesses are much better at understanding weaknesses and addressing them than governments are, many economists argue that market economies will increase employment and decrease waste. By contrast, the main disadvantage of a market economy is that it operates in a winner-take-all atmosphere which is not necessarily beneficial for the majority of workers. A market economy can leave workers with difficult conditions and low pay, with the wealthy soaking up most resources.