The Anglo Saxon model is a benchmark in neoclassical economics well developed product and factor market. It is done by on the spot transaction. Unlike Eu and Asia. In Anglo Saxon model county they use common law which is system based on custom and precedent rather than a written legal code. In US legal system superior appeals court ensure that common law produces consistent law even-thought different judges may rule differently in their own jurisdictions. Hayke notion of spontaneous order, if a legal system lead no inefficient, outcomes, it will appraiser over time as more efficient rule show it to be inferior. The more importantly, business organization and cooperate governance is different from Europe. Firm objects is for short run is profit maximization and for long term market maximization of market capitalization. Share is largely owned by individual and institutional investors. The US especially tends to be run in the interest of shareholders more than in other countries. Managers have the job of maximization shareholder values. Firms are easily to obtain external funds by issuing new shares and bonds. Corporate motivate managers and executive members by a stock option, golden parachute and matching employee contribution to their 401 K retirement account invested in corporation market stock. Venture capital is the US capital market promotes dynamic change by moving capital around quickly. In Anglo Saxon, the government does not define clear priorities in economic affairs. The government sees itself as watching-dog for private excesses. The government intends to correct market and imperfection. The weakness of the US system, weak regulation and decentralization of decision making result in high cost and poor outcomes in the presence of market failure. For example, medical care, primary and secondary education/ In the 1960s and 1970s, the high cost and inefficient regulation promoted a management toward deregulation. It can leads to lower price for most but all customers and the diversity of choice and more freedom of choice. American trade unions are more decentralized than their counterpart in EU. More authority rests with local unions. US labor union does not bargain at national level. The labor market in Anglo Saxon model if flexible labor market. especially in US. employee freedom to hire and fire employees and change condition of work and pay with free restrictions. It is a liquid labor market, unlike EU, Long term unemployment was rare. Labor turnover is high, Labor trade is mobile, unemployment rate fluctuated widely. More test answers on https://studyhippo.com/anglo-saxon-eu-asia/