Why are markets considered as unsuitable for promoting development?

The process of establishing a market system frequently includes radical reform which produces both winners and losers. Frequently the burden of adjustment reduces unequally on society. For illustration:

• Getting prices right

• Macroeconomic stability

• Liberalise or open up trade

• An attrition of traditional community values and acceptance of an alien western culture which values the maximisation of profits and consumerism by maximisation of personal consumer welfare

• Larger disparities into income and wealth while the benefits of growth are unevenly distributed. Raised income inequalities can cause social alienation and exclusion

• Growth and development may be untenable.