You will hear a short lecture. Write a summary for a fellow student who was not present at the lecture. You should write 50 – 70 words. You have 10 minutes to finish this task. Your response will be judged on the quality of your writing and on how well your response presents the key points presented in the lecture.
In the most developed countries, especially in those with democracy, the market economy is essential in historical development. In the 18th and 19th century, the industrial revolution had a negative effect on people living in all class in the world, which resulted in a decrease in life expectancy, height, human population, and poor medical records. However, legislation was issued to deal with corporate coordination and business behaviors. Other legislation was issued to start battling with environmental conditions. These legislations helped the market economy worked. Thus, nowadays, the market economy brings benefits far more than we shared 100 years ago.