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What Is a Mixed Economic System? A mixed economic system is one that combines aspects of both  capitalism  and  socialism . A mixed economic system accepts private property and permits economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims. According to neoclassical theory, mixed economies are less efficient than pure free markets. However, proponents of government intervention argue that the base conditions required for efficiency in free markets, such as equal information and rational market participants, cannot be achieved in practical application. KEY TAKEAWAYS A mixed economy is an economy organized with some free-market elements and some socialistic elements; it lies on a  continuum between  pure capitalism and pure socialism. Mixed economies typically accept private ownership of most means of production, with some government intervention, mainly through  regulations ...