Changes

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 [[Friedrich Hayek]] warned however of mixing a [[planned economy]] with a competitive 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>

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 [[Friedrich Hayek]] warned however of mixing a [[planned economy]] with a competitive 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>

A ''[[mixed economy]]'' 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 bureaucratic socialised 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 similar system is provided by Canada, whose citizens sometimes cross the border to the U.S. to get decent medical treatment; in some cases these patients will be reimbursed by the government.  

A ''[[mixed economy]]'' 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 bureaucratic socialised 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.

[[Milton Friedman]] said,

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. [http://www.brainyquote.com/quotes/quotes/m/miltonfrie173375.html]

: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]