The Anglo-Saxon countries or the liberal market economies are just about the only example of a country grouping that both the cultural theories and the comparative institutional theories agree on. Culturally, these countries are characterized by low power distance, high individualism, and low uncertainty avoidance. Institutionally, these countries have shared legal origins (common law) and specific political systems (first-past-the-post in most instances). They are the stock market capitalist, liberal market, or compartmentalized capitalist countries. They are characterized by powerful private property rights, lesser rights for other stakeholders, and government being less interested in supporting stakeholder rights, with commensurate suspicion of government involvement (other than in respect of bailouts of politically connected insider corporations) and taxation. Competition is depicted as unalloyed good, even if in practice such markets are often characterized by powerful oligopolies. This is important because the original theories of management and of human resource management, most of the research, and much of the current thinking in these areas come from the United States of America; most of the largest management consultancies have their headquarters or draw their inspiration from the United States; and academic teaching and publication follow the United States. There have, however, been debates about how cohesive and consistent the Anglo-Saxon category is and precisely how the implications for human resource management are manifested in each country.