WebEconomic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. ... Soviet-type economic planning took form in the 1930s and largely remained unchanged despite mild reforms until the Soviet Union's dissolution.

WebA command economy follows an administrative-command system and uses Soviet-type economic planning which was characteristic of the former Soviet Union and Eastern Bloc before most of these countries converted to market economies. This highlights the central role of hierarchical administration and public ownership of production in guiding the ...

WebThe economic calculation problem (sometimes abbreviated ECP) is a criticism of using economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article " Economic Calculation in the Socialist Commonwealth " and later expanded upon by Friedrich Hayek .

WebMaterial balance planning was the principal tool of planning employed by Soviet-type planned economies and was Gosplan's major function in the Soviet Union. This system emerged in a haphazard manner during the collectivisation era. It prioritized rapid growth and industrialization over efficiency.

WebSocialism is a left-wing economic philosophy and movement encompassing a range of economic systems characterized by the dominance of social ownership of the means of production as opposed to private ownership. As a term, it describes the economic, political and social theories and movements associated with the implementation of such systems. …

WebInput–output planning was never adopted because the material balance system had become entrenched in the Soviet economy, and input–output planning was shunned for ideological reasons. As a result, the benefits of consistent and detailed planning through input–output analysis were never realized in the Soviet-type economies.

WebState ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government …

WebA 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 ...

WebOverview. Statism can take many forms from small government to big government. Minarchism is a political philosophy that prefers a minimal state such as a night-watchman state to protect people from aggression, theft, breach of contract and fraud with military, police and courts.This may also include fire departments, prisons and other functions. …

WebSoviet-type economic planning; Stabilization Plan; State Planning Commission (GDR) T. Three-Year Plan; W. War economy This page was last edited on 28 March 2013, at 11:59 (UTC). Text is available under the ... About Wikipedia; Disclaimers; Contact Wikipedia; Mobile view; Developers;