![]() ![]() 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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