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The need for long-term economic planning to promote efficiency was a central component of Labour Party thinking until the 1970s. The Conservative Party largely agreed, producing the postwar consensus, namely the broad bipartisan agreement on major policies. [31] A long-term economic plan was a phrase often used in British politics.
Decentralized planning is usually held in contrast to centralized planning, in particular the Soviet-type economic planning of the Soviet Union's command economy, where economic information is aggregated and used to formulate a plan for production, investment and resource allocation by a single central authority.
Almost every aspect of government has an important economic component. A few examples of the kinds of economic policies that exist include: [1] Macroeconomic stabilization policy, which attempts to keep the money supply growing at a rate that does not result in excessive inflation, and attempts to smooth out the business cycle.
Local economic development (LED) is an approach to economic development, of note in the developing world that, as its name implies, places importance on activities in and by cities, districts and regions. Local economic development combines economic development activities, urban planning, infrastructure development and social development ...
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...
The economic development planning began in 1948 when Prime minister Liaquat Ali Khan presented the first Five-Year plans at the parliament of Pakistan on 8 July 1948. The first plan was conceived by the Ministry of Finance (MoF), and were studied and developed by the Economic Coordination Committee (ECC) based on the theory of Cost-of ...
Soviet-type economic planning (STP) is the specific model of centralized planning employed by Marxist–Leninist socialist states modeled on the economy of the Soviet Union. The post- perestroika analysis of the system of the Soviet economic planning describes it as the administrative-command system due to the de facto priority of highly ...
The Five-Year Plans for the National Economy of Pakistan (Urdu: اقتصادی منصوبہ جاتِ پنج سالہ ، پاکستان) (otherwise publicly known as Five-Year Economic Plans for the National Economy), were the series of nationwide centralised economic plans and targets as part of the economic development initiatives, in the Pakistan. [1]