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It delineated the chief thrust of the country's economic development and specified the way the economy could meet the desired goals of the Communist Party of the Soviet Union. Although the five-year plan was enacted into law, it contained a series of guidelines rather than a set of direct orders.
The administrative-command system (Russian: Административно-командная система, romanized: Administrativno-komandnaya sistema), also known as the command-administrative system, is the system of management of an economy of a state characterized by the rigid centralization of economic planning and distribution of ...
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 ...
The economy grew every year from 1812 to 1815 despite a large loss of business by East Coast shipping interests. Wartime inflation averaged 4.8% a year. [105] The national economy grew 1812–1815 at the rate of 3.7% a year, after accounting for inflation. Per capita GDP grew at 2.2% a year, after accounting for inflation. [104]
The Nazi economy has been described as dirigiste by several scholars. [11] [12] Overall, according to historian Richard Overy, the Nazi war economy was a mixed economy that combined free markets with central planning; Overy describes it as being somewhere in between the command economy of the Soviet Union and the capitalist system of the United ...
East Germany's political and economic system reflected its status as a part of the Eastern Bloc of Soviet-allied Communist countries, with the nation ruled by the Socialist Unity Party of Germany (SED) and operating with a command economy for 41 years until 3 October 1990 when East and West Germany were unified with the former being absorbed ...
The economic history of the world encompasses the development of human economic activity throughout time. It has been estimated that throughout prehistory, the world average GDP per capita was about $158 per annum (inflation adjusted for 2013), and did not rise much until the Industrial Revolution .
Economic policies implemented to combat these problems led to declines in the rates of nominal economic growth and per capita income by 1961. [8] Abadan Refinery, built 1913. In response to these setbacks, Iran initiated its third economic development plan (1962–68) with an emphasis on industrialization. New economic policies significantly ...