What are employment relations like in a ‘Liberal Market Economy’ employment relations? The case of North America

So, as I'm sure we all know, the United States of America holds a great deal of influence on global economical structures encompassing ER and other regulatory models. But what exactly are these practices, and what is meant by a 'Liberal Market Economy'?

A Liberal Market Economy refers to a free market economic system which, contrary to a Coordinated Market Economy, represents a more competitive nature of business, with increased emphasis on radical innovation and a de-regulated and anti-trust climate. 

An example of an organisation that would benefit from a North American economic structure is the NewAge-Bio Research and Development Centre. An article from Research Methodology discusses how the Centre would benefit from the NA climate contrary to a CME present in EU countries such as Germany mainly due to the fact that radical changes and innovations are ideal for that specific industry, whereas the German climate would provide only a slow and gradual developmental process due to the increased inter dependencies on other companies. 

However, Employment Relations in a LME are described as highly mobile due to the deregulation of the labor market (flexible/fluid labor markets). Recruitment expenditures of organisations in the US would not be entirely justified as workers are more likely to move on as new opportunities arise, thus losing professionals to a competitive firm.  In addition to this, Cooke (2007), as cited by "Liberal and Coordinated Market Economies", mentions the individualised employment contracts that tend to limit tenure. The move from Collective Agreements to Individual Contracts can be attributed to the age of Globalisation - industry specific contracts are no longer feasible, although that's a conversation for another time. 

So basically, from my understanding, LME's facilitate a more 'cut-throat' environment where everyone is out for themselves and out to get ahead. The advantages of LME's are quite clear; the progression achieved by individual firms is paramount, but would a more stable, collaborative approach benefit some other industries in the long run? 

I leave you with a question: Is the independence of organisations in the NA climate such an issue when, thanks to the fluidity of the market and Globalisation, large companies are basically entering partnerships/joint ventures or entirely taking over smaller organisations, eventually leads to required resources all coming to one place anyway?

Out of curiosity, I'd like to know who would prefer to work in an LME over a CME. Leave an answer in the comments :D

http://research-methodology.net/liberal-and-coordinated-market-economies/
http://www.answers.com/topic/liberal-market-economy
International and Comparative Employment Relations: Globalisation and change
http://en.wikipedia.org/wiki/Varieties_of_Capitalism

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