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Command/Centrally Planned Economies

Command/Centrally Planned Economies. Government Control Of Resources & Factors of Production. Command Econ. Government owns/controls all land, labor, resources All decisions economically centrally controlled and made by government

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Command/Centrally Planned Economies

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  1. Command/Centrally PlannedEconomies Government Control Of Resources & Factors of Production

  2. Command Econ • Government owns/controls all land, labor, resources • All decisions economically centrally controlled and made by government • Socialism- democratic means of distributing wealth/political equity-Centrally planned • Communism-All economic power /decisions made through authoritarian means. –Command economy- dictatorship-few freedoms for people

  3. Communism • Karl Marx /FredrichEngles/Vladimir Lenin • Believed in socialism and advocated violent revolution to bring about change • Felt industrialized nations were divided by social classes based on wealth • Marx believed capitalist never allowed wages to rise above the minimum standard for the workers to live on • Marx saw this a “class struggle”

  4. Communism • Bourgeoisie- wealthy capitalists, anyone with wealth • Proletariat- workers and laborers • Worldwide revolution by workers is the belief of communism • A dictatorship would ensue for a short period to set up society • Eventually all government would cease to exist • All land, labor, products, etc,, would be equally owned and distributed to all in society.

  5. Soviet Union 1917-1991 • Command Economy- Government 5yr plans • Agriculture- collective farms/quotas/ • Millions died as result • Industry-heavy industry/military goods/$$$$$ • Little to no consumer goods • Quality and selection poor/ shortages • Economy and people run into the ground

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