EVOLUTION OF THE CONCEPT Free enterprise Economic liberty Noninterference of the state Invisible hand Forces of demand and supply Socailisation of means of production No private enterprise based on self interest private property ID: 1027600
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1. MIXED ECONOMY
2. LOREM IPSUMEVOLUTION OF THE CONCEPTFree enterpriseEconomic libertyNon-interference of the stateInvisible handForces of demand and supplySocailisation of means of productionNo private enterprise- based on self interest, private propertyState controlCapitalismSocialism
3. LOREM IPSUMMixed Economy- MeaningMixed economy implies demarcation and harmonisation of the public and private sectors. market mechanism is not permitted and the government intervenes or regulates the private sector in such a way that the two sectors become mutually re-inforcing. A mixed economy represents an achievable balance between individual initiative and social goals. There is a commitment on the part of both the sectors to national objectives and priorities.
4. Compromise- state intervention and free enterpriseKarl Max and Rise of communist Regimes in USSR, China, Vietnam, Cuba etc.Classicals in the 18th and 19th CenturyGreat depression and J.M KeynesEVOLUTION OF THE CONCEPT
5. Industrial Policy Resolution of 1980Industrial Policy Resolution of 1956Beginning of Economic PlanningIndustrial Policy Resolution of 1977EVOLUTION OF MIXED ECONOMY IN INDIA
6. Mixed Economy03 Mixed Economy01Mixed Economy02India as a Mixed EconomyPositive Economic Role of the StateCo-existence of Public and Private SectorsCombined features of Capitalism and Socialism
7. 030102Planning in a Mixed EconomyPositive Economic Role of the Co-existence of Public and Private SectorsCombined features of Capitalism and Socialism