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The Fallacy of the MixedEconomy
A ‘Autra’ Crtque f Recet EcmcThkg a Plcy
sECond EdiTion
S . C . L I T T L E C H I L D
The Institute of Economic Affairs
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First published in Great Britain in 1978 by
The Institute o Economic Aairs
2 Lord North Street
Westminster
London sw1p 3lb
Second edition (with postscript) published in 1986
This reissued edition published in 2009 by
The Institute o Economic Aairs
in association with Profle Books Ltd
The mission o the Institute o Economic Aairs is to improve public understanding o
the undamental institutions o a ree society, by analysing and expounding the role o
markets in solving economic and social problems.
Copyright © The Institute o Economic Aairs 1978 & 1986
The moral right o the author has been asserted.
All rights reserved. Without limiting the rights under copyright reserved above, no part
o this publication may be reproduced, stored or introduced into a retrieval system,
or transmitted, in any orm or by any means (electronic, mechanical, photocopying,
recording or otherwise), without the prior written permission o both the copyright
owner and the publisher o this book.
A CIP catalogue record or this book is available rom the British Library.
ISBN 978 0 255 36633 5
Many IEA publications are translated into languages other than English or are reprinted.
Permission to translate or to reprint should be sought rom the Director General at theaddress above.
Printed and bound bound by Digital Book Print Ltd
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The ittute a reearch ad educatoal charty (no. CC 235 351), lmted
by guaratee. it mo to mprove udertadg o the udametal
ttuto o a ree ocety by aalyg ad expoudg the role o market
olvg ecoomc ad ocal problem.
The iEA acheve t mo by:
• ahigh-qualitypublishingprogramme
• conferences,seminars,lecturesandotherevents
• outreachtoschoolandcollegestudents• brokeringmediaintroductionsandappearances
The iEA, whch wa etablhed 1955 by the late sr Atoy Fher,
a educatoal charty, ot a poltcal orgaato. it depedet o ay
poltcal party or group ad doe ot carry o actvte teded to aect
upport or ay poltcal party or caddate ay electo or reeredum, or
at ay other tme. it faced by ale o publcato, coerece ee ad
volutary doato.
i addto to t ma ere o publcato the iEA alo publhe a
quarterly joural, Economic Affairs .
The iEA aded t work by a dtguhed teratoal Academc
Advory Coucl ad a emet pael o Hoorary Fellow. Together wth
other academc, they revew propectve iEA publcato, ther commet
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the ame rgorou depedet reereeg proce a ued by leadg academc
joural.
iEA publcato ejoy wdepread claroom ue ad coure adopto
chool ad uverte. They are alo old throughout the world ad ote
tralated/reprted.
sce 1974 the iEA ha helped to create a worldwde etwork o 100
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Vew expreed the iEA’ publcato are thoe o the author, ot
thoe o the ittute (whch ha o corporate vew), t Maagg Trutee,
Academc Advory Coucl member or eor ta.
Member o the ittute’ Academc Advory Coucl, Hoorary Fellow,
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The ittute grateully ackowledge facal upport or t publcato
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About the IeA
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