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1 Answer
- sensekonomikxLv 71 decade agoFavorite Answer
Certainly yes. No better alternative to market economy capitalism has so far been found out, theoretically or empirically. However all capitalism is not market economy capitalism. India still has a strong component of inefficient State Capitalism with non-market economic sub-systems. Mixed economies are generally Govt. dominated economies. The United States is an example of mixed economy but where market economy is the prime mover. India is a mixed economy but still dominated by inefficient State capitalism non-market sectors. Virtually the entire banking sector is 80% non-market State capitalism. Mixed economy at time is even worse than Communism.Market economy capitalism is the best which even the USA is not taking full advantage of.