Sekatalous

Sekatalous, or a mixed economy, is an economic system that blends market mechanisms with government intervention. It aims to combine the efficiency of private markets with public provision of essential services and social protections, seeking to balance economic growth with social equity and stability.

In practice, sekatalous relies on a combination of private enterprise and public policy tools. The private sector operates in competitive markets, while the state uses regulation, taxation, public spending, subsidies, and welfare programs to address market failures, provide public goods, and reduce inequality. Government ownership or control of key industries may exist in some sectors such as energy, transportation, or finance, but is not universal. The exact balance between market forces and state involvement varies widely across countries and over time, with Nordic economies often cited as examples of extensive welfare provisions paired with competitive markets.

Advantages commonly associated with sekatalous include improved social protection, economic stability, universal access to essential services, and a degree of resilience to economic shocks. Potential drawbacks can include inefficiencies from government intervention, higher tax and debt burdens, political economy constraints, and the risk of misallocation if public policy is poorly designed or capturing of rent-seeking behavior occurs. Today, most economies are described as mixed to some degree, reflecting the pervasive coexistence of markets with state planning and welfare provisions rather than a purely market-driven or exclusively state-controlled system.