Anglo-Saxon model

The Anglo-Saxon model (so called because it is practiced in Anglosphere countries such as the United Kingdom, the United States, Canada, New Zealand, Australia and Ireland) is a regulated market-based economic model that emerged in the 1970s.

Based on the Chicago school of economics, it was spearheaded in the 1980s in the United States by the economics of then President Ronald Reagan (dubbed Reaganomics), and reinforced in the United Kingdom by then Prime Minister Margaret Thatcher (dubbed Thatcherism).

Characteristics of this model include low levels of regulation and taxation, with the public sector providing minimal services. It emphasises strong private property rights, contract enforcement, and overall ease of doing business as well as low barriers to free trade.

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