Regulated mixed economy
Contemporary economies
It combines market coordination with public intervention, regulation, and varying degrees of public ownership.
Historical context
In the twentieth century many economies combined markets with public services, regulation, and fiscal instruments. The exact combination varies by sector and country.
Overview
A transaction can benefit a buyer and seller while imposing costs on someone else. A mixed system can let prices coordinate sales while using a rule, tax, or public policy to address that cost.
Main claims
Regulation and public provision can complement the coordinating role of markets.
Market coordination
Prices and exchanges retain a central role.
Interpretation for comparison · Markets · Stanford Encyclopedia of Philosophy
Market regulation
Regulation responds, among other things, to external effects of exchange.
Interpretation for comparison · Markets · Stanford Encyclopedia of Philosophy
Central planning
Public action is combined with decentralised market coordination.
Interpretation for comparison · Markets · Stanford Encyclopedia of Philosophy
Debates and nuances
The family includes widely differing institutional combinations.
The assessment compares only the positions documented in this entry.