planned economy

noun

1. an economic system in which the government controls and regulates production, distribution, prices, etc.

planned economy

noun

1. another name for command economy

planned economy

1. A type of economy in which some central authority makes a wide range of decisions pertaining to production and wages.

The former Soviet Union and other communist nations are examples of planned economies.

Word History and Origins

Origin of planned economy¹

First recorded in 1930–35

Example Sentences

Veiled criticism of the report emerged soon after its publication, with German Finance Minister Christian Lindner saying EU joint borrowing would not solve structural problems, and that the main problem was not a lack of subsidies, but bureaucracy and a planned economy.

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China’s film industry was operating under a planned economy when Wang Xiaoshuai graduated from Beijing Film Academy in 1989.

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It was not until later that he learned about the mass layoffs that swept northeastern China in the 1990s, during the country’s shift from a planned economy toward a market-based one.

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Home ownership in China has vastly expanded over the past few decades, after a sweeping housing reform that gave workers ownership of homes that were previously assigned to them by the state-owned companies and agencies that once employed most city dwellers in the formerly centrally planned economy.

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China came out of its Maoist planned economy in the 1980s as a largely rural society, badly in need of factories and infrastructure.

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