Mixed economy
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In economics and politics, a mixed economy is an economy that combines regulated capitalism, central planning (see planned economy), as well as certain socialist measures and state ownership of some sectors of the economy, such as:
- social security
- roads and other transportation
- environmental regulation
- labor regulation
- product safety regulation
- minimum wage
- transfer payments
- government subsidies to business
- antitrust laws
- progressive taxation
- public education
- health care
- publicly owned firms that produce goods and services
Most democratic countries, including the United Kingdom, have mixed economies. The United States technically has a mixed economy, though it is arguably skewed more toward capitalism than any other country in the developed world. The term mixed economy is generally used when an economy has reasonably significant portions of both socialism (and/or central planning) and capitalism (or economic freedom).
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