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planned economy
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planned economy


...the idea of a "planned economy" has sounded both plausible and attractive to many of the best educated people in the world, unit it was demonstrated, again and again, in innumerable countries and at painful costs, that it does not work.
Thomas Sowell  --  Applied Economics
  an economy in which state authorities rather than market forces directly determine prices, output and production
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planned economy command economy planned economies command economies
Strongly Associated with:   market economy
Notes:
Word Mastery:  Sometimes referred to as a "command economy".
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  • ...the idea of a "planned economy" has sounded both plausible and attractive to many of the best educated people in the world, unit it was demonstrated, again and again, in innumerable countries and at painful costs, that it does not work.
    Thomas Sowell  --  Applied Economics
  • Every expert has conceded long ago that a planned economy achieves the maximum of productive efficiency and that centralization leads to super-industrialization.
    Ayn Rand  --  Atlas Shrugged
  • It is my belief that there is only one way to eliminate these evils, namely, the establishment of a planned economy coupled with an education geared toward social goals.
    Jay Allison, et al.  --  This I Believe
  • It will combine the efficiency of free enterprise with the generosity of a planned economy," Dagny observed some faces-it took her an effort fully to believe it-who were looking at Galt with hatred.
    Ayn Rand  --  Atlas Shrugged
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Associated words [difficulty]:   planned economy [8] , market economy [9] , market economy [9]
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Most commonly used in these subjects:   Public Policy & Politics, Business, Nature & Ecology
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