What is a Mixed Economy?

This video looks at a mixed economy. It analyzes the different advantages and disadvantages of the economy and explains how life is in this economy.

Thank you all for support! Unfortunately the guided notes have been discontinued, in the future I hope to have more notes and resources come out for you. Thank you again for the support.

[sportsforlife]

Thank you Mr. Sinn. As always, you taught better than my teacher. You're a really good teacher! I love that you get all your information in such a small amount of time!

[totifernandez]

The best is mixed economy. Essentials like energy, telecom, education, healthcare, transportation, affordable housing, and policing should be in the hands of government and state corporations. Private interest should not profit from public need. The rest of the economy, which is still huge, about 60% or so, should be left to free enterprise. You have to balance between equity and competitiveness. America is an extreme example of unbridled capitalism, and it is not good.

[qaqambandzuzo]

Thanku Mr snn i will no longer cramm. You made it easy and you just get straight to the point not running around the bush wasting time you are really good thanku

[TamTran-uofz]

Thank you Mr. Sinn your video help give me a better understanding of Market, Planned, and Mixed economies very helpful!

[pravinbangar]

I am from India ... I loved you teaching techniques

[Peeheehee]

ISTG I SUBSCRIBED RIGHT AFTER THE MENTIONING OF HANNAH MONTANA'S SONG THIS VIDEO IS AMAZING MY GUY KEEP UP THE GOOD WORK

[larkinpowers]

Thank you for the information. I love the comparison to a Hannah Montana song.

[suhiadawants]

I love this it really helped me understand what is happening thank u

[HisDudeness]

Both sides don’t seem to understand, or are willing to grasp, that the US has this type of system. It’s either we’re capitalist on one side, or anti-capitalist/pro-socialist on the other.

[shanky]

I didn't know Mr. Sinns was an economist also!

[vociferous]

Honestly noone on eithet side of the political aisle wants to admit that we live in mostly mixed economies today, and that that is mostly to our benefit. Seems everyone wants us to go to one extreme or the other and that is somehow not going to end horribly... and that in spite of history it has not already ended horribly multiple times.

[jlall]

The government don't have to much power and neither do the corporations. However when the governments and corporations collude together, then there is a problem

[Scp--ipht]

it's a lovely explaination but the hannah montana reference??

[IWearShaqs]

Please show this to the Sean Hannity and Glenn Beck types that cry SOCIALISM!!!

[vpqzn]

Just started 10 grade bruh this is so annoying

[meseretfenta]

Market canifaeisn fcentrphry advantages

[kadankessler]

NOW ENOUGH OF ME TALKING... *intro* starts talking again.

[cyberneticbutterfly]

An interesting take on mixed market economies is found in a story where AI will be used to help manage society. This was portrayed in game Deus Ex: invisible war

" Laws and justice are applied from general ideas and as such are neccesarily incomplete. General ideas is the insufficiency not the strength of the human intellect ... The Helios AI would have a deep understanding of every persons life and opinions ... de Tocqueville noted that an all-knowing mind -- the mind of God as he concieved it -- would have no need for general ideas. It would understand every individual need and at a glance. Incomplete applications of law and justice would be impossible for such a mind.
"
JC Denton

What to do if we don't have such an AI or don't trust it? How do we manage an economy and society ourselves?

Given this philosophy the direction a mixed market economy should go isn't more left or more right but aspire to an ever more personalized application of law and justice that moves away from then overgeneralized laws that simpler societies start out with.

By taking into account the opinion and situation of every indvidual company an economy can be managed with a more and more perfect balancing act between private ownership and the competence hierarchy vs public control and redistribution.

It would however be hard to measure social values in a personalized way without violating privacy, even if we grant that a central storage of such information might be exploited for nefarious purposes. On the other hand we are stuck with general views. Nevertheless as in my quote we should avoid generalized thinking and instead think on a spectrum; we may do some measurement to get approximate answers where we can't go so far as to violate privacy.

This presents a vision of a cycle of refinement that is defined by the boring political term "Regulation".
There are of course two reasons to remove regulation. One honest; the little guy can't keep up with massive regulations and so regulations that are instituted should be truly needed. The second dishonest and corrupt; politicians are pressured or bought by corporations to cut regulations using excuses while actually supressing a needed regulation for corporate profit.

This leads me to say we need *right* regulation not *less* regulation. Idolizing *less* is naive and incentivising passing regulations is bloat.

So the vision remains the cycle of refinement.

Sadly humans think that the goal is to find which extreme side of the economic political spectrum is right when the answer was to refine the middle all along.

[josephpostma]

Corruption and poor government spending.