command economy


Also found in: Dictionary, Financial, Wikipedia.
Related to command economy: mixed economy

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 ?
Trying to micromanage stock prices was a typical command economy reflex and a grave policy mistake.
The Weimar Republic government printed paper money in big amounts and as a result inflation rates in Germany catapulted, ultimately leading to the collapse of the German economy and hyper inflation which paved the way for the Nazi Government to take over and enforce a command economy. Such an example shows what happens to an economy if preventative measures are not enforced during a time of crisis especially the one that is facing Iraq and the Middle East at the moment.
We do not have a command economy. We have a mostly free-market economy, no thanks to Mrs.
Some of Cuba's best-known economists are openly questioning the very core of the Soviet-style command economy and saying market reforms under way are too modest to boost weak growth, reports The Oman Observer (Oct.
He recently announced plans to replace the Planning Commission, a lingering vestige of India's early attempt to mimic the Soviet command economy, with a modern institution to reflect a shift to a market-based economy where the states were the main drivers of growth rather than a central body.
According to officials in the know, Modi never had much of a regard for the commission and considered it a relic of the command economy that India tried to emulate from the then Soviet era.
However, in this case, people were complaining a few months ago that prices of hotel rooms, for example, has become very high," the ambassador said, adding,"We are a mixed economy, as we do not want a command economy, for instance as was in the Soviet Union.
On his part, European Parliament President Martin Schulz said "the enlargement of the European Union ten years ago was a historic event that moved Europe towards a final reunification and reconciliation after the end of the Cold War." "It crowned the transition of many central and eastern European countries from communist rule and the command economy to democracy and the free market.
Since the 1980s, China has shaken off the lethargy of the Communist command economy with reforms that brought years of blistering growth, making its GDP second only to the US and establishing it as the world's biggest trading power in goods.
A natural extension of the previous questions is to improve our understanding of the goals of all economic agents in the command economy, not only those of the dictator.
The economists here proposed measures for transforming a command economy into a market economy that respected specific Bulgarian characteristics, such as allowing a variety of forms of ownership dominated by private ones, and the need to renovate in order to be competitive in a globalized world.
Among his topics are the theoretical model of the command economy and society, the matrix of structural reforms in transition, competitive privatization, public finance and administration, and legal and judicial reform.

Full browser ?