Mixed Economy
All modern economies are mixed where the means of production
are shared between the command and free sectors. Also called dual economy.
Most countries adopt a mixed economy which consists of both command and free sectors. There are bunch different of benefits having a mixed economy. Separately these two systems are limited but together they form a more powerful system. One of the benefits of a mixed economy is that the government can intervene where is it deemed to be for the public good. Another benefits is that while some areas are controlled, business can compete and seek to make profit. Based on this mixed economy is very useful in the way that you can get the best of both worlds - the freedom and enterprise of a market economy and the control and social good of a socialist system. |