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Planned economies contrast with command economies in that a planned economy is "an economic system in which the government controls and regulates production, distribution, prices, etc." [39] whereas a command economy necessarily has substantial public ownership of industry while also having this type of regulation. [40]
The Index of Economic Freedom is an annual report published by The Heritage Foundation and The Wall Street Journal in the United States. Countries and regions are assessed as free, mostly free, moderately free, mostly unfree, or repressed. [3] These lists are from private Western institutions and not from the UN or IMF.
The list includes countries that assert in their constitutions that they are based on socialism, regardless of their economic or political system. It does not list countries that do not have constitutional references to socialism as socialist states , even in cases where the government is currently run by a socialist party or other left-wing ...
National economies can be run from the top down, so to speak, in what is sometimes called a command economy or they can be run from the bottom up in what is sometimes called a free market. In the ...
Economic planning is not synonymous with the concept of a command economy, which existed in the Soviet Union, and was based on a highly bureaucratic administration of the entire economy in accordance to a comprehensive plan formulated by a central planning agency, which specified output requirements for productive units and tried to micromanage ...
The Maoist economic model of China was designed after the Stalinist principles of a centrally administrated command economy based on the Soviet model. [204] In the common program set up by the Chinese People's Political Consultative Conference in 1949, in effect the country's interim constitution, state capitalism meant an economic system of ...
In service economies, where the relative importance of industry has decreased, Arnold Kling posited in 2011 that healthcare and education are the new commanding heights. The two sectors are central to employment and consumption, and in the United States are driven primarily by government intervention. [ 7 ]
The Czechoslovak economy, like most economies in socialist countries, differed markedly from market or mixed economies.The main difference is that while in market economies, decisions by individual consumers and producers tend automatically to regulate supply and demand, consumption and investment, and other economic variables, in most communist economies, these variables are decided by a ...