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... > social science subjects > business and management > sociology of work > sociology of work encyc > theories of work and economy key concepts > command economies
... > social science subjects > sociology > sociology of work > sociology of work encyc > theories of work and economy key concepts > command economies

Preferred term

command economies  

Definition

  • In market economies, decisions about production, pricing, distribution, and investment are made by private owners of capital and are motivated by profit maximization. In command economies, by contrast, the state owns all productive assets and controls and directs the economy. [Source: Sociology of Work: An Encyclopedia; Command Economies]

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https://concepts.sagepub.com/social-science/concept/command_economies

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