What happened to the mixed economy?

posted by
August 21, 2011
by David Henderson  
Posted in Commentary

"Open up any principles of economics textbook written between the 1950s and the early (and maybe even late) 1970s, and the odds are high that it will say that the United States has a mixed economy. One part of the mix, it will say, is free markets or capitalism. It's sometimes vague about the other part of the mix. ... But sometime in the 1980s, writers of economics textbooks -- and even many economists in popular articles -- lost some accuracy. They started saying that the U.S. has a free-market economy." (08/21/11)



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