Centralized Economy
Centralized Economy
A centralized economy is an economic system in which the government controls major production decisions, prices, and distribution.
In the Soviet Union, central controls often prevented farmers and manufacturers from deciding what to produce or what prices to charge.
Definition
centralized economy = 中央集权经济 / 计划经济，由国家主导资源配置
Weaknesses
By the late 20th century, the Soviet centralized economy had slowed badly, limited trade, and contributed to the broader crisis that inspired Perestroika. :contentReference[oaicite:21]