Search results
Results From The WOW.Com Content Network
According to one definition: "Decentralization, or decentralizing governance, refers to the restructuring or reorganization of authority so that there is a system of co-responsibility between institutions of governance at the central, regional and local levels according to the principle of subsidiarity, thus increasing the overall quality and ...
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.
Cartel - In economics, a cartel is an agreement between competing firms to control prices or exclude entry of a new competitor in a market. It is a formal organisation of sellers or buyers that agree to fix selling prices, purchase prices, or reduce production using a variety of tactics.
Decentralized economic planning is a planning process that starts at the user-level in a bottom-up flow of information. Decentralized planning often appears as a complement to the idea of socialist self-management , most notably by democratic socialists and libertarian socialists .
A market economy is a decentralised economic system because it does not function via a central, economic plan (which is usually headed by a governmental body) but instead, acts through the distributed, local interactions in the market (e.g. individual investments). While a "market economy" is a broad term and can differ greatly in terms of ...
The raging debate between decentralized and centralized cryptocurrency exchanges regarding which type better serves the public is still being hotly contested. Decentralized vs. Centralized ...
The term market socialism has also been applied to planned economic systems that try to organize themselves partially along market-lines while retaining centralized state ownership of capital. Examples of market socialism include economic democracy , the Lange model , liberal socialism , market-oriented left-libertarianism , mutualism the New ...
Decentralized decision-making also contributes to the core knowledge of group intelligence and crowd wisdom, often in a subconscious way à la Carl Jung's collective unconscious. Decision theory is a method of deductive reasoning based on formal probability and deductive reasoning models.