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planned economy
noun
- an economic system in which the government controls and regulates production, distribution, prices, etc.
planned economy
planned economy
- A type of economy in which some central authority makes a wide range of decisions pertaining to production and wages .
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Notes
The former Soviet Union and other communist nations are examples of planned economies.
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Word History and Origins
Origin of planned economy1
First recorded in 1930–35
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Example Sentences
Instead, he engages a series of questions that nobody is debating: * Should we have a free market or a centrally planned economy?
From The Daily Beast
Deng Xiaoping invented the Four Modernizations, which justified the transformation of the planned economy to a market economy.
From The Daily Beast
This peculiar expenditure of labour by a society producing under capitalism will vanish in a socially planned economy.
From Project Gutenberg
The fears of unemployment and poverty in old age were to be eliminated wholesale through a planned economy, a new social order.
From Project Gutenberg
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