capitalist market economic systems

A hybrid economy is an economic system that combines elements of both capitalist and market economic systems. In a hybrid economy, the government retains some control over the economy in the form of regulations and economic planning, while private companies and individuals are also able to participate in an open market. There can also be a certain degree of state-owned industry and publicly-funded services alongside private enterprise. A hybrid economic system allows for a balance to be struck between the efficiency of a capitalist system and the social justice of a more regulated, state-controlled system. It enables both individuals and businesses to benefit from the resources and opportunities of the private sector, while simultaneously providing the ability for the government to intervene in the economy in order to provide aid, support and stability. As such, it is often seen as a compromise between the two different models, and can be utilized to provide a more equitable and diverse economy.