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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 ...
In a centrally planned economy, decisions regarding the quantity of goods and services to be produced are planned in advance by a planning agency (see also the analysis of Soviet-type economic planning). The economic systems of the Soviet Union and the Eastern Bloc are further classified as "command economies", which are defined as systems ...
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 ...
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]
In the classic Marxist definition (pure communism), a communist economy refers to a system that has achieved a superabundance of goods and services due to an increase in technological capability and advances in the productive forces and therefore has transcended socialism such as a post-scarcity economy. This is a hypothetical stage of social ...
According to Yevgeni Preobrazhensky, a Bolshevik economist, control over the commanding heights of the economy would ensure primitive socialist accumulation. [1] The phrase can be traced back to Vladimir Lenin 's defense of the New Economic Policy (NEP), which saw market-oriented reforms while the state retained control of the commanding heights.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
In their words, the Hutterites "established in their communities a rigorous system of Ordnungen, which were codes of rules and regulations that governed all aspects of life and ensured a unified perspective. As an economic system, communism was attractive to many of the peasants who supported social revolution in sixteenth century central Europe."