Why do some nations begun a transition to free enterprise?

Answer 1

Nations often begin a transition to free enterprise to stimulate economic growth, attract foreign investment, and enhance efficiency by promoting competition. This shift can improve living standards by fostering innovation and creating job opportunities. Additionally, adopting free-market principles can help reduce government intervention, leading to better resource allocation and increased consumer choice. Political and social pressures for reform, along with globalization, also play significant roles in this transition.