Centrally Planned Economy

What is a centrally planned economy?

• An economy where the government steps in and answers all key economic questions of production and comsumption.

No consumer based competition and predetermined occupation and equal wages for all

• 2 main types of C.P.E’sSocialism and Communism!!

Socialism

• Social and political philosophy based on the belief that democratic means should be evenly distrubuted throughout the society

• Socialists argue that it shall work only if the political and social aspects are tightly coupled with their economic equality. Meaning that in order for it to work there can be no corruption within the government and within the industries

Communism

• Almost like socialism except for a few things;Central government(usually ruled by a single power as opposed to a democratic society.) holding all economic and political power that predetermines nearly everything in your lifeEx: where you work, what you’ll wear and where you buy your food etc.This form of a C.P.E theoretically can only happen after a violent revolution.

Chart time!

Movie time!

• https://www.youtube.com/watch?v=ZnyVP-wCB8k&feature=related

• https://www.youtube.com/watch?v=rMqNL7sIhGs