Central economic planning - Revision history

Flix at 10:43, 27 December 2015

2015-12-27T10:43:11Z

← Older revision		Revision as of 10:43, 27 December 2015
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	A system of top-down authoritarian decision making. [[Central economic planning]] was the theoretical system of resource allocation in soviet and socialist forms of government in which private property was abolished and State control of the means of production was enforced.		A system of top-down authoritarian decision making. [[Central economic planning]] was the theoretical system of resource allocation in soviet and socialist forms of government in which private property was abolished and State control of the means of production was enforced.

	The basic theory of [[Central economic planning]] was that a committee of experts could much more rationally and efficiently direct a ~~countrys~~ resources than the chaotic decentralized actions of millions of individuals through the market mechanism. Central planners would set prices, production targets and allocate resources and personnel to strategic industries and priorities.		The basic theory of [[Central economic planning]] was that a committee of experts could much more rationally and efficiently direct a country's resources than the chaotic decentralized actions of millions of individuals through the market mechanism. Central planners would set prices, production targets and allocate resources and personnel to strategic industries and priorities.

	== Criticisms ==		== Criticisms ==

Flix at 19:11, 26 December 2015

2015-12-26T19:11:06Z

← Older revision		Revision as of 19:11, 26 December 2015
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	A system of top-down authoritarian decision making. [[Central economic planning]] was the theoretical system of resource allocation in soviet and socialist forms of government in which private property was abolished and State control of the means of production was enforced.		A system of top-down authoritarian decision making. [[Central economic planning]] was the theoretical system of resource allocation in soviet and socialist forms of government in which private property was abolished and State control of the means of production was enforced.

	The basic theory of [[Central economic planning]] was that a committee of experts could much more rationally and efficiently direct a ~~country's~~ resources than the chaotic decentralized actions of millions of individuals through the market mechanism. Central planners would set prices, production targets and allocate resources and personnel to strategic industries and priorities.		The basic theory of [[Central economic planning]] was that a committee of experts could much more rationally and efficiently direct a countrys resources than the chaotic decentralized actions of millions of individuals through the market mechanism. Central planners would set prices, production targets and allocate resources and personnel to strategic industries and priorities.

	== Criticisms ==		== Criticisms ==

Flix: /* Current examples */

2015-12-26T18:38:25Z

Current examples

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	== Current examples ==		== Current examples ==

			* [[Central Banking]]
			* [[Price Controls]]
			* [[National Monopolies]]
			* [[Minimum wage]]

Flix at 18:33, 26 December 2015

2015-12-26T18:33:03Z

← Older revision		Revision as of 18:33, 26 December 2015
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	A system of top-down authoritarian decision making. [[Central economic planning]] was the theoretical system of resource allocation in soviet and socialist forms of government in which private property was abolished and State control of the means of production was enforced.		A system of top-down authoritarian decision making. [[Central economic planning]] was the theoretical system of resource allocation in soviet and socialist forms of government in which private property was abolished and State control of the means of production was enforced.

	The basic theory of [[Central economic planning]] was that a committee of experts could much more rationally and efficiently direct a country's resources than the chaotic decentralized actions of millions of individuals through the market mechanism.		The basic theory of [[Central economic planning]] was that a committee of experts could much more rationally and efficiently direct a country's resources than the chaotic decentralized actions of millions of individuals through the market mechanism. Central planners would set prices, production targets and allocate resources and personnel to strategic industries and priorities.

	== Criticisms ==		== Criticisms ==

Flix at 18:31, 26 December 2015

2015-12-26T18:31:51Z

← Older revision		Revision as of 18:31, 26 December 2015
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	The basic theory of [[Central economic planning]] was that a committee of experts could much more rationally and efficiently direct a country's resources than the chaotic decentralized actions of millions of individuals through the market mechanism.		The basic theory of [[Central economic planning]] was that a committee of experts could much more rationally and efficiently direct a country's resources than the chaotic decentralized actions of millions of individuals through the market mechanism.

			== Criticisms ==
			Early critics of Central economic planning, especially [[Ludwig von Mises]], pointed out the [[Economic calculation problem]] in the absence of market prices. Others criticisms include the difficulty of engineering and planning in complex systems with emergent properties ([[Friedrich Hayek]]) and problems of incentives and regulatory capture (public choice theory).


			== Current examples ==

Flix: Central economic planning

2015-12-26T18:24:57Z

Central economic planning

← Older revision		Revision as of 18:24, 26 December 2015
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	A system of top-down authoritarian decision making. [[Central economic planning]] was the theoretical system of resource allocation in soviet and socialist forms of government in which private property was abolished and State control of the means of production was enforced.		A system of top-down authoritarian decision making. [[Central economic planning]] was the theoretical system of resource allocation in soviet and socialist forms of government in which private property was abolished and State control of the means of production was enforced.

			The basic theory of [[Central economic planning]] was that a committee of experts could much more rationally and efficiently direct a country's resources than the chaotic decentralized actions of millions of individuals through the market mechanism.

Flix: Created page with "A system of top-down authoritarian decision making. Central economic planning was the theoretical system of resource allocation in soviet and socialist forms of government..."

2015-12-26T18:21:30Z

Created page with "A system of top-down authoritarian decision making. Central economic planning was the theoretical system of resource allocation in soviet and socialist forms of government..."

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A system of top-down authoritarian decision making. [[Central economic planning]] was the theoretical system of resource allocation in soviet and socialist forms of government in which private property was abolished and State control of the means of production was enforced.