what is a mixed economy
a mixed economy is a system with either markets and economic planning, and public/private ownership.
- without a mixed economy, we wouldn't have the right to possess means of production.
- mixed economies help lessen the amount of government control.
- Most industries are allowed to stay private firms
- mixed economies allow government regulation in areas with bad markets
- It becomes difficult to find where exactly the government ca intervene
- socialists are criticizing mixed economies because it allows a lot of market forces that can lead to small allocation and inequality of resources.
At the end of the day, the success or failure of mixed economy will depend on how it is being managed. Even the best market economists are arguing that government intervention is needed if only for protecting the private properties.