Planned economy
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A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned eco
Albert Einstein advocated for a socialist planned economy with his 1949 article "Why Socialism?"
Economic planning systems of communist states is the specific model of centralized planning employed by communist states, which has its origins in the economy of the Soviet Union, and formally based o
Planned economy
…goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning. The level of centralization or decentralization in decision-making and participation depends on the specific type of planning…
"Catch up and overtake" (Russian: Кто кого? Догнать и перегнать). A 1929 Soviet propaganda poster based on 1917 paraphrase from Lenin, praising the economic superiority of state socialism.