central planning
Government controls economy
Central planning is an economic system where a government authority makes decisions about production, distribution, and pricing rather than letting markets determine them.
The term is associated with socialist and communist economies: The Soviet Union relied on central planning to set agricultural quotas.
Critics use it to warn against excessive government control: This proposal amounts to central planning by bureaucrats.
Forced communal ownership transfer
- collective farmingJointly worked pooled land
- land reformRedistributing agricultural holdings
- nationalizationGovernment acquisition of industry
- industrializationTransition to factory-based economy
Great Leap Forward · Cultural Revolution · infrastructure development · public works · electrification · modernization · housing allocation · education policy
State-controlled economic system
- quotaFixed assigned amount
- production targetsPlanned manufacturing goals
- resource allocationAssigning available means strategically
- nationalizationGovernment acquisition of industry
price setting · rationing · public sector · industrial policy · consumer goods · heavy industry · autarky
Class-based revolutionary philosophy
- LeninismVanguard-led revolutionary doctrine
- StalinismTotalitarian Communist doctrine
- MaoismPeasant-centered communist doctrine
- communismCollective ownership system
socialism · collectivism · Soviet Union · proletariat · party line · state ownership · means of production · classless society
Organizational oversight and control
- hierarchyRanked authority structure
- ministryClergy's work or state department
- committeeAppointed group for duties
- apparatchikBlindly devoted official
civil service · paperwork · red tape · procedures · oversight · compliance · coordination · directives
Suboptimal use of resources
- shortagesInsufficient quantities available
- misallocationImproper distribution of resources
- corruptionDishonest abuse of power
- black marketIllicit trading system
stagnation · Hayek · distortion · waste · queuing · hoarding · unintended consequences · reform
collectivization
Forced communal ownership transfer
- collective farmingJointly worked pooled land
- land reformRedistributing agricultural holdings
- nationalizationGovernment acquisition of industry
industrialization · Great Leap Forward · Cultural Revolution · infrastructure development · public works · electrification · modernization · housing allocation · education policy
command economy
State-controlled economic system
- quotaFixed assigned amount
- production targetsPlanned manufacturing goals
- resource allocationAssigning available means strategically
nationalization · price setting · rationing · public sector · industrial policy · consumer goods · heavy industry · autarky
Marxism
Class-based revolutionary philosophy
- LeninismVanguard-led revolutionary doctrine
- StalinismTotalitarian Communist doctrine
- MaoismPeasant-centered communist doctrine
communism · socialism · collectivism · Soviet Union · proletariat · party line · state ownership · means of production · classless society · redistribution
administration
Organizational oversight and control
- hierarchyRanked authority structure
- ministryClergy's work or state department
- committeeAppointed group for duties
apparatchik · civil service · paperwork · red tape · procedures · oversight · compliance · coordination · directives · reporting
inefficiency
Suboptimal use of resources
- shortagesInsufficient quantities available
- misallocationImproper distribution of resources
- corruptionDishonest abuse of power
black market · stagnation · Hayek · distortion · waste · queuing · hoarding · unintended consequences · reform · perestroika
- communismMarx, Marxism, Leninism, Lenin, proletariat
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
- socialismMarxism, communism, proletariat, bourgeoisie, communal ownership
- Soviet communismLenin, Stalin, Leninism, Bolsheviks, Stalinism
- Soviet EraUSSR, Soviet Union, Soviet rule, CCCP, Eastern Bloc
- Soviet UnionKremlin, Lenin, Stalin, KGB, Sputnik
central planningfree market
Commerce without state intervention
market economy · laissez-faire · capitalism · free enterprise · deregulation
central planningdecentralization
Distributing power from center
self-organization · subsidiarity · grassroots organization · federalism · devolution
plan, planned, central, planning, eccentric, planner, concentrate, unplanned, concentration