Concept: the deliberate blend — private and public sectors coexisting, the state regulating, providing public goods and redistributing, the market allocating most goods: the post-War consensus form (and the real form of almost every economy on earth). Features: private sector (most production), public sector (the "commanding heights" infrastructure, utilities, finance in varying degree), government regulation (competition, labour, environment), planning-indicative or directive, welfare transfers, progressive taxation. Appraisal: pragmatism's answer to both ideologies — capturing market efficiency and correcting its failures; the standing tensions: where to draw the line (the perennial political question), public-sector inefficiency risk, regulatory capture. Nepal: a mixed economy by constitution and history — the Panchayat-era
nationalisations, the 1990s opening (1.2), today's private-led growth with state utilities (NEA, NOC), the cooperatives' "third pillar" (ECO-I 4.5.4), and the socialism-oriented directive (POTH 5.3's settlement) — the mixed model with Nepali characteristics.