Editing Mixed economy (section)

== Overview ==
While there is no single all-encompassing definition of a mixed economy, there are generally two major definitions, one being political and the other apolitical. The political definition of a mixed economy refers to the degree of [[state interventionism]] in a market economy, portraying the state as encroaching onto the market under the assumption that the market is the natural mechanism for allocating resources. The political definition is limited to capitalistic economies and precludes an extension to non-capitalist systems, and aims to measure the degree of state influence through [[public policies]] in the market.<ref>{{cite book|last=Brown|first=Douglas|title=Towards a Radical Democracy (Routledge Revivals): The Political Economy of the Budapest School|publisher=Routledge|date=11 November 2011|isbn=978-0415608794|pages=10–11|quote=There are in general two broad yet distinguishable definitions of 'mixed economy': a political definition and an apolitical definition. The political definition refers to the degree of state intervention in what is a market economy. Thus this definition 'portray[s] the phenomenon in terms of state encroaching upon the market and thereby suggest[s] that market is the natural or preferable mechanism. ... The political definition of 'mixed economy' precludes extending it to non-capitalist systems.}}</ref>

The apolitical definition relates to patterns of ownership and management of economic enterprises in an economy, strictly referring to a mix of public and private ownership of enterprises in the economy and is unconcerned with political forms and public policy. Alternatively, it refers to a mixture of economic planning and markets for the allocation of resources.<ref>{{cite book|last=Brown|first=Douglas|title=Towards a Radical Democracy (Routledge Revivals): The Political Economy of the Budapest School|publisher=Routledge|date=11 November 2011|isbn=978-0415608794|pages=10–11|quote=The apolitical definition of 'mixed economy' generally refers to the mix of public and private ownership forms. ... Here 'mixed economy' itself does not specify a political form. it means an economy characterized by a combination of public and private ownership as well as planning and markets.}}</ref>

=== History ===
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.<ref>{{cite book|last=Reisman|first=David A.|title=Theories of the Mixed Economy (Theories of the mixed economy)|date=1994 |publisher=Pickering & Chatto Ltd|isbn=1-85196-214-X}}</ref> The oldest documented mixed economies in the historical record are found as early as the [[4th millennium BC]] in the [[Ancient Mesopotamia]]n civilization in [[city-states]] such as [[Uruk]] and [[Ebla]].<ref name="MooreLewis2009">{{cite book|author1=Karl Moore|author2=David Charles Lewis|title=The Origins of Globalization|url=https://books.google.com/books?id=LXWTAgAAQBAJ&pg=PA40|date=2 June 2009|publisher=Routledge|isbn=978-1-135-97008-6|pages=24–25, 36}}</ref> The economies of the [[Ancient Greece|Ancient Greek]] city-states can also best be characterized as mixed economies.<ref name="IsagerSkydsgaard2013">{{cite book|author1=Signe Isager|author2=Jens Erik Skydsgaard|title=Ancient Greek Agriculture: An Introduction|url=https://books.google.com/books?id=YU8qBgAAQBAJ|date=3 April 2013|publisher=Routledge|isbn=978-1-134-81827-3|page=202}}</ref> It is also possible that the [[Phoenicia]]n city-states depended on mixed economies to manage trade.<ref name="Terpstra2019">{{cite book|last=Terostra|first=Taco|title=Trade in the Ancient Mediterranean: Private Order and Public Institutions|url=https://books.google.com/books?id=VnRzDwAAQBAJ&pg=PA48|date=9 April 2019|publisher=Princeton University Press|isbn=978-0-691-18970-3|page=48}}</ref> Before being conquered by the [[Roman Republic]], the [[Etruscan civilization]] engaged in a "strong mixed economy".<ref name="Dunstan2010">{{cite book|last=Dunstan|first=William E.|title=Ancient Rome|url=https://books.google.com/books?id=xkOhwFzz1AkC&pg=PA10|date=16 November 2010|publisher=Rowman & Littlefield Publishers|isbn=978-0-7425-6834-1|page=10}}</ref> In general, the cities of the [[Ancient Mediterranean]] in regions such as [[North Africa]], [[Iberia]], and [[Southern France]], among others, all practiced some form of a mixed economy.<ref>{{cite book|title=The Cambridge Economic History of Europe from the Decline of the Roman Empire: Trade and industry in the Middle Ages|url=https://books.google.com/books?id=bAwPAQAAMAAJ|year=1941|publisher=The University Press|page=35| isbn=9780521087100 }}</ref> According to the historians [[Michael Rostovtzeff]] and [[Pierre Lévêque]], the economies of [[Ancient Egypt]], pre-Columbian [[Mesoamerican]], [[Ancient Peru]], [[Ancient China]], and the [[Roman Empire]] after [[Diocletian]] all had the basic characteristics of mixed economies.<ref name="Douglas2017">{{cite book|last=Douglas|first=Jack D.|title=The Myth of the Welfare State|url=https://books.google.com/books?id=lmVQDwAAQBAJ|date=29 September 2017|publisher=Taylor & Francis|isbn=978-1-351-47905-9|page=339}}</ref> After the collapse of the [[Western Roman Empire]], the [[Byzantine Empire]] in its eastern part continued to have a mixed economy until its destruction by the [[Ottoman Empire]].<ref name="Oaks1986">{{cite book|last=Oaks|first=Dumbarton|title=Continuity and Change in Late Byzantine and Early Ottoman Society: Papers Given at a Symposium at Dumbarton Oaks in May 1982|url=https://books.google.com/books?id=eUhoAAAAMAAJ|year=1986|publisher=University of Birmingham, Centre for Byzantine Studies|isbn=978-0-7044-0748-0|page=59}}</ref>

[[Islamic Golden Age|Medieval Islamic societies]] drew their primary material basis from the classical [[Mediterranean Sea|Mediterranean]] mixed economies that preceded them,<ref name="WattCachia1977">{{cite book|author1=Professor W Montgomery Watt|author2=Pierre Cachia|title=A History of Islamic Spain|url=https://books.google.com/books?id=qTiG6DsJi7AC&pg=PA43|year=1977|publisher=Transaction Publishers|isbn=978-1-4128-4471-0|page=43}}</ref> and the economies of Islamic empires such as the [[Abbasid Caliphate]] dealt with their emerging, prominent capitalistic sectors or market economies through regulation via state, social, or religious institutions.<ref name="Turner1998">{{cite book|last=Turner|first=Bryan S.|title=Weber and Islam|url=https://books.google.com/books?id=tTizPWAGDU4C&pg=PA125|year=1998|publisher=Psychology Press|isbn=978-0-415-17458-9|page=125}}</ref> Due to having low, diffuse populations, and disconnected trade, the economies of Europe could not have supported centralized states or mixed economies and instead a primarily agrarian [[feudalism]] predominated for the centuries following the [[Fall of the Western Roman Empire|collapse of Rome]]. With the recovery of populations and the rise of [[medieval communes]] from the 11th century onward, economic and political power once again became centralized. According to [[Murray Bookchin]], mixed economies, which had grown out of the medieval communes, were beginning to emerge in Europe by the 15th century as feudalism declined.<ref name="White2008">{{cite book|last=White|first=Damian F.|title=Bookchin: A Critical Appraisal|url=https://books.google.com/books?id=oanZAAAAMAAJ|date=20 October 2008|publisher=Pluto Press|isbn=978-0-7453-1965-0|page=63}}</ref> In [[17th century France|17th-century France]], [[Jean-Baptiste Colbert]] acting as finance minister for [[Louis XIV]] attempted to institute a mixed economy on a national scale.<ref>{{cite book|title=Nationalization and Privatization in Contemporary France|url=https://books.google.com/books?id=xSnQJ8kZz6MC&pg=PA4|publisher=Hoover Press|isbn=978-0-8179-5153-5|page=4}}</ref>

The [[American System (economic plan)|American System]] initially proposed by the first [[United States Secretary of the Treasury]], [[Alexander Hamilton]], and supported by later American leaders such as [[Henry Clay]], [[John C Calhoun]], and [[Daniel Webster]], exhibited the traits of a mixed economy combining [[protectionism]], ''[[laissez-faire]]'', and [[infrastructure]] spending.<ref name="Fels1961">{{cite book|last=Fels|first=Rendigs|title=Challenge to the American Economy: An Introduction to Economics|url=https://books.google.com/books?id=AQXaAAAAIAAJ|year=1961|publisher=Allyn and Bacon|page=39}}</ref><ref name="PrestonSmith1988">{{cite book|author1=Frederick William Preston|author2=Ronald Wayne Smith|title=Sociology: A Contemporary Approach|url=https://books.google.com/books?id=V4C2gV6I9DkC|year=1988|publisher=Allyn and Bacon|isbn=978-0-205-11384-2|page=501}}</ref> After 1851, [[Napoleon III]] began the process of replacing the old [[agricultural]] economy of France with one that was mixed and focused on [[industrialization]].<ref name="AdlerPouwels2016">{{cite book | author1 = Philip J. Adler | author2 = Randall L. Pouwels | date = 28 September 2016 | title = World Civilizations | edition = 8 | publisher = Cengage Learning | pages = 442 | isbn = 978-1-337-51764-5 | oclc = 1100703755 | url = https://books.google.com/books?id=PPi5DQAAQBAJ&pg=PA442}}</ref> By 1914 and the start of [[World War I]], Germany had developed a mixed economy with government co-ownership of infrastructure and industry along with a comprehensive social welfare system.<ref name="HowardKing2014">{{cite book|author1=Michael Charles Howard|author2=John Edward King|title=A History of Marxian Economics, Volume I: 1883-1929|url=https://books.google.com/books?id=IhgABAAAQBAJ&pg=PA66|date=14 July 2014|publisher=Princeton University Press|isbn=978-1-4008-6052-4|page=66}}</ref> After the [[1929 stock crash]] and subsequent [[Great Depression]] threw much of the global economy into a severe economic decline, British economists such as [[John Maynard Keynes]] began to advocate for economic theories that argued more government intervention in the economy.<ref name="SuvantoFletcher2016">{{cite book|author1=Pekka Suvanto|author2=trans Roderick Fletcher|title=Conservatism from the French Revolution to the 1990s|url=https://books.google.com/books?id=Xd6zCwAAQBAJ&pg=PA105|date=7 March 2016|publisher=Springer|isbn=978-1-349-25888-8|pages=105–106}}</ref> [[Harold Macmillan]], a British politician in the [[Conservative Party (UK)|Conservative Party]], also began to advocate for a mixed economy in his books ''Reconstruction'' (1933) and ''[[The Middle Way (book)|The Middle Way]]'' (1938).<ref name="SuvantoFletcher2016" /> Supporters of the mixed economy included [[R. H. Tawney]],<ref name="isbn0-04-323014-8">{{cite book|last=Tawney|first=R. H.|title=Equality|publisher=Allen and Unwin|location=London|year=1964|isbn=0-04-323014-8}}</ref> [[Anthony Crosland]],<ref name="isbn0-8371-9586-1">{{cite book|last=Crosland|first=Anthony|title=The Future of socialism|publisher=Greenwood Press |location=Westport, Conn|year=1977|isbn=0-8371-9586-1}}</ref> and [[Andrew Shonfield]], who were mostly associated with the [[Labour Party (UK)|Labour Party]] in the United Kingdom. During the [[post-war period]] and coinciding with the [[Golden Age of Capitalism]], there was general worldwide rejection of ''laissez-faire'' economics as capitalist countries embraced mixed economies founded on economic planning, intervention, and welfare.<ref name="MehrotraGuichard2020">{{cite book|last1=Guichard|first1=Sylvie|last2=Mehrotra|first2=Santosh|title=Planning in the 20th Century and Beyond: India's Planning Commission and the NITI Aayog|url=https://books.google.com/books?id=6xzhDwAAQBAJ&pg=PA285|date=29 October 2020|publisher=Cambridge University Press|isbn=978-1-108-49462-5|page=285}}</ref>