Mixed economy
In economics and politics, a mixed economy is an economy which combines regulated capitalism, a limited number of planned economy institutions, as well as certain socialist measures and state ownership of some sectors of the economy, such as:
- social security
- environmental regulation
- labor regulation
- product safety regulation
- progressive taxation
- public education
- health care
- public owned firms that produce goods and services, not just public services
Most democratic countries, including the United Kingdom, have mixed economies. The United States has a market economy, not a mixed economy. The term mixed economy is generally used when an economy has reasonably significant portions of both socialism and capitalism.
See also:
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