command economy

noun

: an economic system in which activity is controlled by a central authority and the means of production are publicly owned

Example Sentences

Recent Examples on the Web

The region was riven with power struggles and violence as the country lurched from a collapsing Soviet command economy to something completely new. —Kostiantyn Khudov, Washington Post, 8 Dec. 2022

For two decades beginning in the 1980s, the Chinese leadership ostensibly shifted the country from an austere command economy to a unique blend of market and state control that is often credited with the country’s ascendance to relative prosperity. —Frank Dikotter, WSJ, 17 Nov. 2022

For decades, underground banking systems served the elite of the Chinese Communist Party, or CCP, especially after the totalitarian regime opened its command economy to global capitalism. —Sebastian Rotella, ProPublica, 11 Oct. 2022

There, the command economy of a sprawling Communist state heaved itself into military competitiveness with the United States. —New York Times, 19 Aug. 2022

The new regulations suggest that Chinese leadership in some ways wishes to turn back the clock to a simpler and purer Socialist era, perhaps a more self-reliant one that is more driven by command economy concerns and is less capitalistic. —Patrick Frater, Variety, 3 Sep. 2021

In economic terms, modern agricultural methods represent a Soviet-style command economy versus the free market economy of natural ecosystems. —Erik Kobayashi-solomon, Forbes, 9 Apr. 2021

The advantages of free markets and the faults of a command economy are clear in hindsight. —Erik Kobayashi-solomon, Forbes, 9 Apr. 2021

The command economy does not work long-term and will not work for agriculture (or us) long-term either. —Erik Kobayashi-solomon, Forbes, 9 Apr. 2021

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Word History

First Known Use

1942, in the meaning defined above