Editing Market economy (section)

=== Property rights ===
For market economies to function efficiently, governments must establish clearly defined and enforceable [[property rights]] for assets and capital goods. However, property rights do not specifically mean private property rights and market economies do not logically presuppose the existence of [[Private property|private ownership]] of the [[means of production]]. Market economies can and often do include various types of [[cooperatives]] or autonomous [[state-owned enterprise]]s that acquire [[capital goods]] and raw materials in [[capital market]]s. These enterprises utilize a market-determined free price system to allocate capital goods and labor.<ref name="auburn.edu">{{cite web | url=http://www.auburn.edu/~johnspm/gloss/market_economy | title=A Glossary of Political Economy Terms, Market economy | author=Paul M. Johnson | year=2005 | publisher=Auburn University | access-date=28 December 2012 | archive-url=https://web.archive.org/web/20121227012016/http://www.auburn.edu/~johnspm/gloss/market_economy | archive-date=27 December 2012 | url-status=dead }}</ref> In addition, there are many variations of [[market socialism]] where the majority of capital assets are socially owned with markets allocating resources between socially owned firms. These models range from systems based on [[Worker cooperative|employee-owned enterprises]] based on [[Worker self-management|self-management]] to a combination of public ownership of the [[means of production]] with [[factor market]]s.<ref>{{cite book |last= Bock man|first= Johanna |title= Markets in the name of Socialism: The Left-Wing origins of Neoliberalism|publisher= Stanford University Press|year= 2011|isbn= 978-0804775663}}{{page needed|date=March 2022}}</ref>