state-controlled economy
Government-managed marketplace
A state-controlled economy is one in which the government directs production, distribution, and pricing rather than leaving these to market forces.
The term often describes communist or socialist systems where central planning replaces private enterprise: Cuba has maintained a state-controlled economy for decades.
It may also describe wartime economies or authoritarian regimes that nationalize industries.
- five-year planHalf-decade strategic roadmap
- regulationOfficial rules governing conduct
- socialismCommunal economic control
- subsidiesFinancial aid from government
- collectivizationForced communal ownership transfer
heavy industry · nationalization · public utilities · resource allocation · iron curtain · bread lines · ration cards · communism · autarky · Marxism-Leninism · production quotas · collective farms · democratic socialism · authoritarianism · industrial policy · perestroika · import quotas · dirigisme
state-controlled economymarket economy
Commerce-based economic system
capitalism · free enterprise · private enterprise · anarcho-capitalism · free market
state-controlled economyfree trade
Unrestricted international exchange
laissez-faire · open market · deregulation · privatization · economic freedom
state, states, stated, stating, statement, statements, statehood, stateless, statesman