How did the concept of a mixed economy evolve?

The progressive idea of the mixed economy dominated eco- nomic thinking in noncommunist countries for most of the 20th century. read more

Building upon the basic formulation that “self interest plus competition equals nirvana,” in the words of New Yorker economic correspondent John Cassidy, contemporary conservative economics is committed to reversing large parts of the progressive regulatory and social welfare tradition and restoring a system of minimal government and maximum private control of the economy that favors corporations and the wealthy. read more

The history of the market economy is one of constant, unintentional (but not uninterrupted) progress rather than a series of discoveries. Even without money, human beings engaged in trade with one another. read more

Stage 1: Concept of Currency started when there was need for a medium of exchange to replace the barter system. Barley, which is also used to make bear , was the first medium of exchange established. Stage 2: Then later on metals like gold, silver were used as medium of exchange. read more