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Mixed economy - Wikipedia
Mix of free markets and state intervention This meaning of a mixed economy refers to a combination of market forces with state intervention in the form of regulations, macroeconomic policies and social welfare interventions aimed at improving market outcomes. As such, this type of mixed … See more
A mixed economy is an economic system that accepts both private businesses and nationalized government services, like public utilities, safety, military, welfare, and education. A mixed economy also promotes some … See more
While there is no single all-encompassing definition of a mixed economy, there are generally two major definitions, one being political and the … See more
Numerous economists have questioned the validity of the entire concept of a mixed economy when understood to be a mixture of capitalism and socialism. Critics who argue that capitalism … See more
1. ^ Gorman, Tom. The Complete Idiot's Guide to Economics, Alpha Books (2003), p. 9. "In a market economy, the private-sector businesses … See more
4th millennium BCThe oldest documented mixed economies in the historical record are found as early as the 4th millennium BC in the Ancient Mesopotamian civilization in city-states such as Uruk and Ebla.Ancient Greek city-statesThe economies of the Ancient Greek city-states can also best be characterized as mixed economies.17th-century FranceJean-Baptiste Colbert acting as finance minister for Louis XIV attempted to institute a mixed economy on a national scale.1914By 1914 and the start of World War I, Germany had developed a mixed economy with government co-ownership of infrastructure and industry along with a comprehensive social welfare system.1930sBritish economists such as John Maynard Keynes began to advocate for economic theories that argued more government intervention in the economy.post-war periodDuring the post-war period and coinciding with the Golden Age of Capitalism, there was general worldwide rejection of laissez-faire economics as capitalist countries embraced mixed economies founded on economic planning, intervention, and welfare.1978Following the Chinese economic reforms initiated in 1978, the Chinese economy has reformed its state-owned enterprises and allowed greater scope for private enterprises to operate alongside the state and collective sectors.1990sThe latest round of state-owned enterprise reform initiated in 2013 stressed increased dividend payouts of state enterprises to the central government and mixed-ownership reform which includes partial private investment into state-owned firms.2010In 2010, Australian economist John Quiggin wrote: "The experience of the twentieth century suggests that a mixed economy will outperform both central planning and laissez-faire."In the apolitical sense, the term mixed economy is used to describe economic systems that combine various elements of market economies and planned economies. As most political-economic ideologies are defined in an idealized sense, what is … See more
• Buchanan, James M. (1986) Liberty, Market and State: Political Economy in the 1980s New York University Press.
• Buckwitz, George D. (1991) America’s Welfare State: From … See moreWikipedia text under CC-BY-SA license Mixed economy | Definition, Characteristics, Examples, & Facts ...
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