While a market economy has many advantages, such as fostering innovation, variety, and individual choice, it also has disadvantages, such as a tendency for an inequitable distribution of wealth, poorer work conditions, and environmental degradation.
Due Process Law and Legal Definition. The due process guarantees under the Fifth and Fourteenth Amendments to the U.S. Constitution Clause provide that the government shall not take a person's life, liberty, or property without due process of law.
