Can anyone tell me what are the benefits and drawbacks of both market economy and mixed economy?

Question

Which system, do you think, is successful and why?

Answer 1

Income is tied to supply and demand in a market economy. So as the economy goes up, so does income. The mixed market type of economic relies on funds to survive by the way of income taxes on people and private businesses.
The drawbacks of the mixed economy is that there is not a lot of potential to make money. The income is floating between the bounds of a good and bad economy. The only good point I can see from the mixed market is that you will have some support even if the economy starts to tank, but the overall quality of life for people who live on subsidies from the government is limited.
Countries like France and Great Brittan run on mixed economies, where France for example, employ what is often called state capitalism. In this form of a mixed economy, the state becomes a major shareholder in private enterprises. An alternative, employed in Great Britain (more in the past than now), is for the state to own some industries while leaving others in private hands."
Even in the United States we don’t have a pure capitalist economy. You will find a mixed economy of people who are on the welfare roles.
It comes down to politics; That’s why do gave me thumbs down, because I am republican. LOL; Socialism has proven itself to be a failure period!

http://en.wikipedia.org/wiki/Talk:Mixed_economy

Answer 2

It is a purely theoretical question so you cannot in all reality, say which is the more successful. All economies are mixed and the only differences are what public funds are expended on - the US for example spends a higher proportion on defence and military than say, the Uk and Canada while they spend proportionately more on health care than the US [ in terms of public funds, not necessirily GDP]. Again, how do you measure success? Rate of economic growth? Low unemployment? Probably no correlation at all with the main economic indicators over a reasonable time period.