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However, the state will plan long-term strategic investment and some aspect of production. It is possible for a state-directed economy to have elements of both a market and planned economy. For example, production and investment decisions may be semi-planned by the state, but distribution of output may be determined by the market mechanism.
The Amish community are an example of economic development being possible without complete modernisation. Profit is given less importance to religion and its values. [ 11 ] Farmers in the Amish community refrain from using modern technological equipment and still find ways to sell their products at market prices and make profits. [ 12 ]
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]
Critique of political economy is a form of social critique that rejects the various social categories and structures that constitute the mainstream discourse concerning the forms and modalities of resource allocation and income distribution in the economy. Communists, such as Marx and Engels, are described as prominent critics of political economy.
A Branch plant economy is an economy that hosts many branch plants (i.e. factories or firms near the base of a supply chain/command chain), but does not host headquarters.
In Marxian economics, the "commanding heights of the economy" are certain strategically important economic sectors. Some examples of industries considered to be part of the commanding heights include public utilities , natural resources , and sectors relating to both foreign trade and domestic trade .
There are generally five major types of cooperative organizations: Consumers' cooperatives, in which the consumers of a co-operative's goods and services are defined as its members (including retail food co-operatives and grocery stores, credit unions, mutual insurance companies, etc.) (Example: REI, federal credit unions, etc.)
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