command economy

American  

[kuh-mand i-kon-uh-mee] / kəˈmænd ɪˌkɒn ə mi /

noun

1. a socialist economic system in which production and distribution of goods and services are controlled by the government and industry is mostly publicly owned.

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command economy British  

noun

1. Also called: planned economy.  an economy in which business activities and the allocation of resources are determined by government order rather than market forces

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Etymology

Origin of command economy

First recorded in 1940–45

Compare meaning

How does command-economy compare to similar and commonly confused words? Explore the most common comparisons:

• market economy vs. command economy

Example Sentences

That also suggests that if people found success in private enterprise, then the New Deal was hardly a Stalinist command economy.

From Salon

In today’s world, fewer authoritarian states run a command economy.

From Washington Post

"He thought it could be reformed, he thought removing some of the essential elements of the Soviet system such as the fear, the repression, the command economy and so forth would still preserve the system. But they turned out to be the actual essential elements of the Soviet system - having removed them, the system unravelled as well."

From Reuters

There, the command economy of a sprawling Communist state heaved itself into military competitiveness with the United States.

From New York Times

Much of that dates to the Soviet era, transporting gas from vast energy fields in Russia westward, when Moscow sought badly needed funds for its faltering command economy and Western suppliers to help build its pipelines.

From Seattle Times