Part 4. Mixed economicsNo state tod

Part 4. Mixed economics
No state today is completely communities, no state is completely capitalistic. The various national economic system tend towards communism or capitalism, and many are difficult to classify exactly. It has been found necessary in many countries to control or regulate national economic conditions. Even the most dedicated free enterprise system, suchs as the USA, have felt this need. The under-developed countries of the world are usually interested in control and long term planning. Such countries as india have had a number of plans guided by the government. India makes a distinction between the public sector of the economy on the one hand and the private sector on the other hand. Such system,with public and private sectors, are neither communistic nor capitalistic, but are sometimes called mixed economies. Britain today has a mixed economy. In the public sector of british economic life are the nationalized industries like coal and steel, british rail and BOAC. In the private sector are the majority of the nation’s industries, both large and small. The private sector includes giant companies like ICI and BP and a great number of small family businesses. In 1962 the british government set up official body to plan national economic policies. This body is called national economic development council. The members of this council are representatives of the employers, the employees and the other interested people.