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A ''[[mixed economy]]'' contains both private-owned and state-owned enterprises or combines elements of [[capitalism]] and [[socialism]], or is a mix of a market economy and command economy. For example, the UK is said to have a free market economy in almost all goods and services but retains a bureaucratic socialized healthcare regime. This is justified on the grounds that it will ensure that British subjects have access to health care which is supported out-of-state coffers.
A ''[[mixed economy]]'' contains both private-owned and state-owned enterprises or combines elements of [[capitalism]] and [[socialism]], or is a mix of a market economy and command economy. For example, the UK is said to have a free market economy in almost all goods and services but retains a bureaucratic socialized healthcare regime. This is justified on the grounds that it will ensure that British subjects have access to health care which is supported out-of-state coffers.
In an interview on [[PBS]], [[libertarian]] economist [[Milton Friedman]] said: '''''"The most important single central fact about a free market is that no exchange takes place unless both parties benefit."'''''<ref>{{cite web |url=https://www.pbs.org/wgbh/commandingheights/shared/minitext/int_miltonfriedman.html |title=Commanding Heights: Interview with Milton Friedman |work=[[PBS]] |date=October 1, 2000 }}</ref> This stands in marked contrast to a "[[Rules Based Order]]" which [[dictate]]s who can and cannot [[trade]] with each other by [[economic sanctions]].
In an interview on [[PBS]], [[libertarian]] economist [[Milton Friedman]] said: '''''"The most important single central fact about a free market is that no exchange takes place unless both parties benefit."'''''<ref>{{cite web |url=https://www.pbs.org/wgbh/commandingheights/shared/minitext/int_miltonfriedman.html |title=Commanding Heights: Interview with Milton Friedman |work=[[PBS]] |date=October 1, 2000 }}</ref> Voluntary exchanges that result in a "Win-Win" situation stand in contrast to a "[[Rules Based Order]]" which [[dictate]]s who can and cannot [[trade]] with each other by [[economic sanctions]].
==See also==
==See also==