Mixed Economic System
Categories: Econ
The truth is that most economic systems these days are mixed economic systems, meaning they have some capitalist aspects and some socialist aspects. Yep, both the U.S. and Russia.
A pure capitalistic economic system is the libertarian’s dream: no government interference allowed, and free markets abound, with everything privatized. That means no public schools, parks, or firefighters—no Federal Reserve tinkering with interest rates—no public programs like Social Security, Medicare, and Disability Insurance.
Today, most mixed economic systems are mixed because they retain capitalistic factors like private property and free flow of capital, but have socialist aspects like government intervention and public programs and institutions.
And corruption. Don't forget the corruption.