| Revision as of 18:01, 24 December 2005 editRlove (talk | contribs)Extended confirmed users1,265 edits expand← Previous edit | Latest revision as of 05:10, 19 August 2020 edit undoDavide King (talk | contribs)Extended confirmed users104,658 edits #REDIRECT Planned economy#Command economy {{r to section}}Tag: Redirect target changed | ||
| (27 intermediate revisions by 15 users not shown) | |||
| Line 1: | Line 1: | ||
| ⚫ | #REDIRECT ] | ||
| In a '''command economy''', the government determines production levels and sets prices. This is said to be advantageous because it prevents unscrupulous investors from taking advantage of consumers. | |||
| {{r to section}} | |||
| ] advocates such as ] have criticized the '''command economy''' on the grounds that centralized planning ignores the ] and is therefore ineffective. Friedman and other economists also point out that not only does a command economy require central price coordination—an already difficult task, given the inability to utilize price signals—but the impossibility of juggling ''all'' of the prices within an economy, as all products are ultimately interrelated. | |||
| In a similar manner, the idea of a '''command economy''' has been criticized because of the inherently large ] associated with the distribution of goods. A good example is the ] which suffered many shortages and inefficiencies due to bureaucratic oversight and neglect. This idea may be attributed to ] who predicted the downfall of the ] because of insurmountable ]. | |||
| ==See also== | |||
| *] | |||
| *] | |||
| ⚫ | |||
| ] | |||
Latest revision as of 05:10, 19 August 2020
Redirect to:
- To a section: This is a redirect from a topic that does not have its own page to a section of a page on the subject. For redirects to embedded anchors on a page, use {{R to anchor}} instead.