Definition of planned economy in US English:

planned economy


  • ‘a shift from a planned economy towards a market system’
    another term for command economy
    • ‘As was understood, a centrally planned economy could not meaningfully promise to cut its formal tariffs and adopt non-discriminatory trade.’
    • ‘The centrally planned economies were viewed as having too much equality and not offering sufficient incentives for growth opportunities.’
    • ‘This was the case in the formerly centrally planned economies.’
    • ‘In addition, communists contended that only nationalization of industry and a centrally planned economy could achieve rapid industrialization and economic efficiency.’
    • ‘Transition of both national economies from planned economies to the free market system created brand new conditions and brought substantial changes in export and import destinations.’
    • ‘The move from a state planned economy to a capitalist economy was seen as the first urgent task.’
    • ‘In a centrally planned economy, the planners are distinguished by the conceptual and design character of their labour, and no doubt also by their academic or other credentials.’
    • ‘The descent into the abyss can be avoided only by replacing capitalism with the planned economy of socialism on a world scale and thus resuming the spiral of progress opened up by capitalism in its early days.’
    • ‘A bureaucratic elite should administer a centrally planned economy to eliminate the inefficiencies inherent in a liberal economic order, and thus avoid failures such as unemployment and poverty.’
    • ‘Its centrally planned economy has been reshaped into a capitalist order based on markets and private property.’
    • ‘Slovakia is struggling with the challenges of changing from a centrally planned economy run by the government to one based on free markets.’
    • ‘Not surprisingly, these are new concepts for banks emerging from a planned economy where their primary purpose has always been to meet the needs of the state.’
    • ‘The country's desperate situation is the product of a centrally planned economy that prefers isolation and international handouts to engagement and reforms that would allow it to be self-sufficient.’
    • ‘After all, at the turn of the millennium Eastern Europe was still in the middle of a painful process of economic restructuring from a centrally planned economy to a capitalist one.’
    • ‘Economy Mongolia is making the transition from a planned economy to a free-market economy.’
    • ‘In former Asian centrally planned economies, private ownership of cars was discouraged in the past, and in some cases prohibited.’
    • ‘As already mentioned, centrally planned economies put relatively large emphasis on industrial production at the expense of the service sector.’
    • ‘With the switch from a centrally planned economy to one dedicated to ‘market socialism,’ the lines of authority and ownership became blurred.’
    • ‘The wave of privatization extended from the Thatcher government in England to the restructuring of centrally planned economies, and it generated more securities issues in a wider range of national markets than in any previous period.’
    • ‘The former Soviet Union and other centrally planned economies failed.’


planned economy

/plænd iˈkɑnəmi/