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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]
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 history of the Soviet Union from 1982 through 1991 spans the period from the Soviet leader Leonid Brezhnev's death until the dissolution of the Soviet Union. Due to the years of Soviet military buildup at the expense of domestic development, and complex systemic problems in the command economy, Soviet output stagnated.
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 ...
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 .
Even so, the Soviet Union had the second largest economy in the world from the end of World War II until the mid-1980s. A major strength of the Soviet economy was its enormous supply of oil and gas, which became much more valuable as exports after the world price of oil skyrocketed in the 1970s.
For instance, "[t]he predominant view among Soviet jurists in the 1920s was that Soviet law of that period was Western-style law appropriate for a Soviet economy that remained capitalist to a significant degree." [116] This changed with the introduction of the command economy, and the term socialist law was conceived to reflect this in the ...
The plan called to strengthen the state-owned sector of the economy, further to implement the principles of uniform socialist planning, and to use the economic laws of socialism systematically. Under a law passed by the Volkskammer in 1950, the age at which Germany's youth may reject parental supervision was lowered from 21 to 18.