| Revision as of 16:11, 6 December 2005 editFephisto (talk | contribs)Extended confirmed users1,584 edits Forgot to bold command economy.← Previous edit | Latest revision as of 05:10, 19 August 2020 edit undoDavide King (talk | contribs)Extended confirmed users104,663 edits #REDIRECT Planned economy#Command economy {{r to section}}Tag: Redirect target changed | ||
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| In a '''command economy''', the government controls all levels of its economy. This is typically through high government expenditures on the part of GDP and heavy regulation. This has some advantages determined by ] in that nearly all economic externalities and economic 'Prisoners' Dillemas' can be avoided with a correctly oriented '''command economy'''. | |||
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| ] advocates such as ] have criticized the '''command economy''' on the grounds that centralized planning ignores the ] and is therefore ineffective. In a similar manner, the idea of a '''command economy''' has been criticized because of inherently large ] associated with costs of distribution. 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== | |||
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