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( Mixed economy)
A mixed economy is an economic system that incorporates aspects of more than one economic system. This usually means an economy that contains both privately-owned and state-owned enterprises[1] or that combines elements of capitalism and socialism, or a mix of market economy and planned economy characteristics.[2] There is not one single definition for a mixed economy,[3] but relevant aspects include a degree of private economic freedom (including privately owned industry) intermingled with centralized economic planning (which may include intervention for environmentalism and social welfare, or state ownership of some of the means of production). For some states, there is not a consensus on whether they are capitalist, socialist, or mixed economies. Economies in states ranging from the United States[4] to Cuba[5] have been termed mixed economies. The term "mixed economy" arose in the context of political debate in the United Kingdom in the postwar period, although the set of policies later associated with the term had been advocated from at least the 1930s[6]. Supporters of the mixed economy, including R.H. Tawney[7], Anthony Crosland[8] and Andrew Shonfield were mostly associated with the British Labour Party, although similar views were expressed by Conservatives including Harold Macmillan.
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Mixed economy Subcategories
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