So, here's an idea I've had for a while now. I'm not sure why I've never heard anybody else espouse a similar idea. It's probably unworkable or infeasible for some reason or another, but that doesn't usually stop people from supporting an idea.
The fundamental idea is that the free market is the most efficient way to distribute goods that are scarce and luxuries. But it's not so good at distributing necessities it usually - it's vulnerable to price gouging and leaving people without the bare necessities. Socialism and welfare are good ways to ensure that people have what they need, but can stifle innovation.
So, my idea is a combination of the two. The government provides to all of its citizens the bare necessities of life. Things it already provides, education, police, firefighters, etc. And things it doesn't, like healthcare, simple food and housing and things like that.
Everything else - cars, computers, fancy food and housing, etc. - can be provided in a free market with little regulations, primarily for health and environmental concerns.