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While the emergence of the Soviet Union as the world's first nominally communist state led to communism's widespread association with the Soviet economic model and Marxism–Leninism, [46] [47] [48] some economists and intellectuals argued that in practice the model functioned as a form of state capitalism, [49] [50] [51] or a non-planned ...
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.
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.
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. [1]
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 economic model adopted in the former Soviet Union, Eastern Bloc, and other socialist states is often described as a form of state socialism. The ideological basis for this system was the Stalinist theory of socialism in one country .
The social market economy (SOME; German: soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, [1] is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and generally a welfare state.
In some co-operative economics literature, the aim is the achievement of a co-operative commonwealth, a society based on cooperative and socialist principles. Co-operative economists – federalist, individualist, and otherwise – have presented the extension of their economic model to its natural limits as a goal.