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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]
By 1970, the Soviet economy had reached its zenith and was estimated at 60 percent of the size of the United States [73] in terms of the estimated commodities (like steel and coal). In 1989, the official GDP of the Soviet Union was $2,500 billion [ 74 ] while the GDP of the United States was $4,862 billion [ 75 ] with per capita income figures ...
While the private sector has been accorded a role in the socialist market economy and has greatly increased in size and scope since the 1990s, the private sector does not dominate the Chinese economy. The exact size of the private sector is difficult to determine in part because private enterprises may have a minority of their stock owned by ...
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history. [1]: 11
The Maoist economic model of China was designed after the Stalinist principles of a centrally administrated command economy based on the Soviet model. [204] In the common program set up by the Chinese People's Political Consultative Conference in 1949, in effect the country's interim constitution, state capitalism meant an economic system of ...
From Tsarism to the New Economic Policy: Continuity and Change in the Economy of the USSR. Ithaca, NY: Cornell University Press. Fitzpatrick, Sheila, et al. (ed.) (1991). Russia in the Era of NEP. Bloomington, IN: Indiana University Press. Kenez, Peter. A History of the Soviet Union from the Beginning to the End.
The main prewar agricultural products of the Confederate States were cotton, tobacco, and sugarcane, with hogs, cattle, grain and vegetable plots. Pre-war agricultural production estimated for the Southern states is as follows (Union states in parentheses for comparison): 1.7 million horses (3.4 million), 800,000 mules (100,000), 2.7 million dairy cows (5 million), 5 million sheep (14 million ...
By 1975, the US economy represented some 35% of the entire world industrial output, and the US economy was over 3 times larger than that of Japan, the next largest economy. [33] The expansion was interrupted in the United States by five recessions ( 1948–49 , 1953–54 , 1957–58 , 1960–61 , and 1969–70 ).