Mixed economies combine elements of both systems from "summary" of Comparative Economic Systems by Richard L. Carson
Mixed economies represent a unique blend of features from both market and command systems. In these economies, the government plays a significant role in regulating certain sectors, while allowing for private ownership and market forces to operate in others. This combination of elements aims to harness the strengths of both systems while mitigating their respective weaknesses. One of the key characteristics of mixed economies is the presence of government intervention in certain industries. This intervention often takes the form of regulations, subsidies, and public ownership of key enterprises. By doing so, the government can ensure that essential services are provided to the population, even if market forces alone would not be sufficient to guarantee their provision. At the same time, mixed economies also embrace the principles of market economies by allowing for privat...
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