planned economy

noun

an economic system in which the government controls and regulates production, distribution, prices, etc.

planned economy

planned economy

A type of economy in which some central authority makes a wide range of decisions pertaining to production and wages .

The former Soviet Union and other communist nations are examples of planned economies.

First recorded in 1930–35

Tech entrepreneurs were seen as heroic disruptors in recent years, railing against an ossified planned economy.

From Time

Government-to-person payments are exactly what happened in 1950-to-1970s China, during the planned economy.

Instead, he engages a series of questions that nobody is debating: * Should we have a free market or a centrally planned economy?

Deng Xiaoping invented the Four Modernizations, which justified the transformation of the planned economy to a market economy.

This peculiar expenditure of labour by a society producing under capitalism will vanish in a socially planned economy.

The fears of unemployment and poverty in old age were to be eliminated wholesale through a planned economy, a new social order.

April 17, 2024axolotl

[ak-suh-lot-l ]

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