Korkhovaya K.
PhD Zhukova O.S.
PhD Petrachkova O.S.
Donetsk State University of Management
Mixed Economy
There exists some use of the market mechanism in
planned economies. Likewise there is some measure of state control in free
market economies. Here the term mixed economy is used; it describes most of the
economies in the noncommunist world. These countries are basically market
economies, but all contain elements of state enterprise and governments in all
of them intervene to modify the operation of market forces. They are mixtures
of command and market economies.
In these mixed economies private property is an
important institution. Supporters of the mixed system hold the view that
private property provides an important incentive for people to work, save and
invest. They oppose the abolition of private property and argue that it is
possible to present great inequalities of wealth from arising by the
appropriate government measures.
The mixed economy has come into being as a result of
increasing government intervention and control in capitalist countries. This
development has been particularly extensive during the 20th century.
There are many reasons for this increasing ability of governments.
References:
1.
Becker, G.S. (1981), The Economics
of the Family, Harvard University Press, Cambridge, MA.
2.
Kuran, T. (1993a), "Fundamentalisms and the Economy", in
Marty, M.E. and Appleby, R.S. (Eds.), Fundamentalisms
and the State: Remaking Polities, Economies, and Militance, University of
Chicago Press, Chicago, pp. 289-301.
3.
McKinney, Michael L. Environmental Science: Systems and Solutions. Jones
and Bartlett Publishers. 2003.
4.
Arthur M. Diamond, Jr. (2008). "science, economics of," The New Palgrave Dictionary of
Economics, 2nd Edition, Basingstoke and New York: Palgrave Macmillan.
5.
Aumann, R.J. (1987). "game
theory", The New Palgrave: A Dictionary of
Economics, v. 2, pp. 460–82;
6.
Usher, D. (1987), "real income", The New Palgrave: A Dictionary of Economics,
v. 4, p. 104.
7.
Davis, John B. (2006). "Heterodox Economics, the
Fragmentation of the Mainstream, and Embedded Individual Analysis,” in Future Directions in Heterodox Economics.
8.
Groenewegen, Peter (2008). "division of labour", The New
Palgrave Dictionary of Economics. Abstract.
9.
Brody, A. (1987). "prices and quantities", The New
Palgrave: A Dictionary of Economics, v. 3, p. 957.
10.
Ross, Stephen
A. (1987). "finance", The New Palgrave: A Dictionary of
Economics, v. 2, pp. 322–26.
11.
Stigler, George J. (1976). "The Successes and Failures of Professor
Smith," Journal of Political Economy, 84(6), p. 1202. [P [p. 1199]-1213. Also published as Selected
Papers, No. 50 (PDF), Graduate School of Business,
University of Chicago.
12.
Campos, Antonietta (1987). "marginalist economics", The New
Palgrave: A Dictionary of Economics, v. 3, p. 320.
13.
Schumpeter, Joseph A. (1954). History of Economic Analysis, pp.
97–115. Oxford.
14.
Taber, Christopher, and Bruce A. Weinberg (2008). "labour economics
(new perspectives)," The New Palgrave Dictionary of Economics, 2nd
Edition, Abstract.
15.
Howitt, Peter M. (1987). "Macroeconomics:
Relations with Microeconomics".edited by John
Eatwell, Murray Milgate, Peter Newman. (1987). The New Palgrave: A Dictionary of Economics, pp. 273–76. London and New York:
Macmillan and Stockton.
16.
Hayek, Friedrich A.
(1974). "The Pretence of Knowledge".
Retrieved
2007-09-26., paragraphs 2, 4, 5, and 7–10.
17.
Kennedy, Peter (2003). A Guide to Econometrics, 5th ed.,
"21.2 The Ten Commandments of Applied Econometrics," pp. 390–96/