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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]
An economic system can be considered a part of the social system and hierarchically equal to the law system, political system, cultural and so on. There is often a strong correlation between certain ideologies, political systems and certain economic systems (for example, consider the meanings of the term "communism"). Many economic systems ...
The most prominent example of a planned economy was the economic system of the Soviet Union and as such the centralised-planned economic model is usually associated with the communist states of the 20th century, where it was combined with a single-party political system.
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 Eastern Bloc was a political and economic bloc of Soviet-aligned socialist states in Eastern and Central Europe which adhered to Marxism–Leninism, Soviet-style governance, and economic planning in the form of the administrative-command system and command economy.
Vietnam adopted an economic model it formally titled the socialist-oriented market economy. This economic system is a form of mixed-economy consisting of state, private, co-operative and individual enterprises coordinated by the market mechanism. This system is intended to be transitional stage in the development of socialism.
A state-directed economy is a system where either the state or worker cooperatives own the means of production, but economic activity is directed to some degree by a government agency or planning ministry through mechanisms such as indicative planning or dirigisme. This differs from a centralized planned economy, or a command economy, in that ...
The list includes countries that assert in their constitutions that they are based on socialism, regardless of their economic or political system. It does not list countries that do not have constitutional references to socialism as socialist states, even in cases where the government is currently run by a socialist party or other left-wing ...