mixed economy

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Type of economic structure that combines the private enterprise of capitalism with a degree of state monopoly. In mixed economies, governments seek to control the public services, the basic industries, and those industries that cannot raise sufficient capital investment from private sources. Thus a measure of economic planning can be combined with a measure of free enterprise. A notable example was US president Franklin D Roosevelt's New Deal in the 1930s.

Modelled on the French tricolour, the vertical stripes represent liberty and revolution. The almost square proportions of the flag are unusual. Effective date: 23 January 1831. >>