Planned economy
(Redirected from Socialist economy)
A planned economy is a system implemented by socialist societies in which the allocation of labor and goods is determined on the basis of a common plan for the benefit of the whole society. Planned economies involve the conscious decision-making and effort of the working class in order to be implemented.[1] Planned socialist economies rely neither on markets nor the profit motive to function as capitalist economies do, enabling issues such as routine economic crisis, anarchy of production, homelessness, and ecological destruction to be eliminated.[2]
See also
References
- ↑ Vladimir Lenin (1917). The State and Revolution, Ch. III "Experience of the Paris Commune of 1871 — Marx's Analysis". Available on the Marxists Internet Archive.
- ↑ Stephen Gowans (December 21, 2012). "Do Publicly Owned, Planned Economies Work?". What's Left. Retrieved January 7, 2025.
