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Command Economies

  • By: Christy Glass & Éva Fodor
  • In: Sociology of Work: An Encyclopedia
  • Edited by: Vicki Smith
  • Subject:Organizational Psychology, Sociology of Work (general), Organizational Theory

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. The ...

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