From Abraham's Lincoln's life which would be an example from the old economy when compared to the newly transformed market economy?

Answer: the old economy can be associated to mercantilism which is when the government favors exports and restricts imports. Mercantilism also creates a protection to certain economic groups and a golden bureaucracy.

The market economy favors competition and in the long run benefits most people when it creates opportunity and information for everybody since the market economy promotes freedom, it has increased the standard of living of many people around the globe.