![]() Capitalism, for example, can be simply sliced into two types, based on how production is organized. ![]() The many shades of capitalismĮconomists classify capitalism into different groups using various criteria. Mixed capitalist economies predominate today. In mixed economies, so called because of the blend of markets and government, markets play a dominant role, but are regulated to a greater extent by government to correct market failures, such as pollution and traffic congestion promote social welfare and for other reasons, such as defense and public safety. In free markets, also called laissez-faire economies, markets operate with little or no regulation. The extent to which these pillars operate distinguishes various forms of capitalism. ![]()
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