Mixed Economy Essay

7309 Words Feb 7th, 2011 30 Pages
A "Mixed" Economy
A "mixed" economy is a mix between socialism and capitalism. It is a hodgepodge of freedoms and regulations, constantly changing because of the lack of principles involved. A mixed-economy is a sign of intellectual chaos. It is the attempt to gain the advantages of freedom without government having to give up its power. Communism | A satellite photo of the Korean peninsula at night. Can you tell which half is Communist and which half is Capitalist? |
Communism is a form of socialism. It puts control of all property into the hands of the government directly. The results have been impressive: over 100 million people killed in the last century. Communism is the bloodiest form of government ever conceived. It
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The relative strength or weakness of each component in the national economy can vary greatly between countries. For some state, there is not a consensus on whether they are capitalist, socialist, or mixed economies.[citation needed] Economies ranging from the United States[3] to Cuba[4] have been termed mixed economies.
The economic freedom side includes privately owned industry for reasons including individual freedom, economic efficiency (most especially the allocative efficiency provided by the invisible hand of markets), and the incentive to innovate provided by competition. The government regulation side addresses concerns that the private sector cannot be (or at least has never yet been) well equipped to address, such as environmental protection, maintenance of employment standards, and maintenance of competition. In some mixed economies, it even includes various degrees of centralized economic planning, that is, state ownership of some of the means of production for national or social objectives.[citation needed]
Mixed economies as an economic ideal are supported by people of various political persuasions, typically centre-left and

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