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In a free market, no exchange takes place unless both parties benefit.
Most countries attempt to operate under what is referred to as a 'mixed economy', usually said to be an economy that contains both private-owned and state-owned enterprises or that combines elements of capitalism and socialism, or a mix of 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 bureauocratic state run national health service. This is intended to ensure that British subjects have accesss to health care which is supported out of state coffers. The opposite of a free market is a [[command system]], in which the government regulates all businesses for the theoretical central planning of the economy, although this has been shown to have negative effects. Economist [[Frederich Hayek]] warned however of mixing a [[planned economy]] with a competetive economy, "a mixture of the two means that neither will work." <ref>Friedrich A. Hayek, [http://www.iea.org.uk/files/upld-publication43pdf?.pdf ''Road to Serfdom'',] Reader's Digest Condensed Version, April 1945, pg. 38.</ref>
Most countries attempt to operate under what is referred to as a 'mixed economy', usually said to be an economy that contains both private-owned and state-owned enterprises or that combines elements of capitalism and socialism, or a mix of 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 bureauocratic state run national health service. This is intended to ensure that British subjects have accesss to health care which is supported out of state coffers. The opposite of a free market is a [[command system]], in which the government regulates all businesses for the theoretical central planning of the economy, although this has been shown to have negative effects. Economist [[Frederich Hayek]] warned however of mixing a [[planned economy]] with a competetive economy, "a mixture of the two means that neither will work." <ref>Friedrich A. Hayek, [http://www.iea.org.uk/files/upld-publication43pdf?.pdf ''Road to Serfdom'',] Reader's Digest Condensed Version, April 1945, pg. 38.</ref>
Milton Friedman said,
:The most important single central fact about a free market is that no exchange takes place unless both parties benefit. [http://www.brainyquote.com/quotes/quotes/m/miltonfrie173375.html]
==References==
==References==