command economy

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command economy

a ‘planned economy’, such as those prevailing in Eastern Europe until 1989-90, in which the economy is directed by the central state, and in which the market allocation of goods and services plays only a marginal role.
References in periodicals archive ?
This was the beginning of several exciting developments from the pioneering period, through two world wars, the colourful 1920s and the Planned Economy and TV spots, up to modern viral clips on Internet.
It transformed from a central, planned economy to a market economy with quick economic and social development.
They examine the shift from a centrally planned economy to free markets, and the lasting effects of the change on the agricultural sector, extension, and universities.
This is contrasted with a planned economy, where investment and production decisions are embodied in a plan of production.
More important are the lack of a thorough analysis of the market in relation to a planned economy and the almost complete absence of attention to ecological problems.
It has been thirty years since our planned economy was liberalized," commented Wang Yi, a Chinese businessman, according to AP.
Prices of consumer goods, which had been kept below equilibrium at the time of the planned economy, needed to increase in response to liberalization, creating upward pressure on inflation.
There have been increasing signs in recent months that North Korea virtually ditched its planned economy system and state rationing to inaugurate freer management policies under the new regime of Kim Jong-un as a way to fix its moribund economy.
The services and utilities that need to transcend the political and economic cycles need to be part of a planned economy.
According to the newspaper, it is completely clear that a union of countries with capitalistic system of values today functions politically as a self-governing socialistic community with a planned economy.
The debate of the relative merits of a market economy and a planned economy has a long tradition.
This impression picked strength to start with but later came under serious scrutiny as China, another leading centrally planned economy rose to economic heights.

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