A hybrid economy is any type of local, state, or national economic system that involves a more or less equal focus on two different economic styles. This is a relatively common structure that has been utilized in many different settings over the history of humankind. Some examples include a military-industrial based economy, a university-industry based economy, or one based primarily on a mix of business and government.
In the best of situations, a hybrid economy will draw on the strengths of each major component while also minimizing the weaknesses inherent in any single approach. For example, an economy that rested on a foundation of agrarian and manufacturing elements could achieve a balance that allowed people living within it to enjoy ample fruits, vegetables, meats, and dairy products to consume and invest in. At the same time, this mixed economy would also ensure that other goods could be produced at a cost efficient scale within the jurisdiction. Because of the nature of the mix, industrial waste could conceivably be minimized and productivity would be enhanced due to the balanced nutrition of the general populace.
Not everyone is a fan of the hybrid model, however. One common perspective is that they may inhibit research that is not directly related to one or both of the dual economies within the overall structure. This can lead to situations where the economy is ill suited to deal with shifts in technology, scientific discovery, or even political situations. Others site the potential for an increased desire or need to micromanage one or both major aspects of the economy, diverting resources that could be used to better advantage.
The hybrid economy model seems to function best when the balance between the two components is kept in balance, secondary economies are actively encouraged, and the focus on the hybrid blend does not consume all the resources available within the jurisdiction. This helps to minimize the chances for it to become closed to technological advances and other factors that could ultimately benefit its citizens.