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21 of 23

© 2012 Pearson Education, Inc. Publishing as Prentice Hall

The capital market, which channels private saving into productive capital investment in developed capitalist economies, is made up of hundreds of different institutions.

Transition to a free labor market and liberalization of prices means that some workers will end up unemployed and that everyone will pay higher prices for necessities.

As more and more people experience unemployment, popular support for reform is likely to drop unless some sort of social safety net is erected to ease the transition.

This social safety net might include unemployment insurance, aid for the poor, and food and housing assistance.

The Transition to a Market Economy

Six Basic Requirements for Successful Transition

Market-Supporting Institutions

Social Safety Net

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