A new India

Contrary to popular discourse, non-market systems are also almost always unfair since they concentrate power and resources in a few hands

Economic systems can be broadly classified between market and non-market. A market system is one in which the market freely trades resources such as time, effort, land, materials, capital and energy, allowing these resources to be appropriately priced and be converted into usable things or services. Market systems have succeeded because they are efficient in allocating resources and generating maximum possible wealth. However, markets can be unfair. They invariably lead to wealth concentration since random outcomes are an important ingredient in outcomes. 

This doesn’t mean that non-market systems, where governments determine results, have been better because they are woefully inefficient. Contrary