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Soviet-type Economies
Soviet-type economic planning (STP) is the specific model of centralized planning employed by Marxist–Leninist socialist states modeled on the economy of the Soviet Union (USSR). The post-'' perestroika'' analysis of the system of the Soviet economic planning describes it as the administrative-command system due to the ''de facto'' priority of highly centralized management over planning. Characteristics Institutions The major institutions of Soviet-type planning in the USSR included a planning agency ( Gosplan), an organization for allocating state supplies among the various organizations and enterprises in the economy ( Gossnab) and enterprises which were engaged in the production and delivery of goods and services in the economy. Enterprises comprised production associations and institutes that were linked together by the plans formulated by Gosplan. In the Eastern bloc countries (Bulgaria, Czechoslovakia, East Germany, Hungary, Poland, Romania, and Albania), econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Centralized Planning
A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning. The level of centralization or decentralization in decision-making and participation depends on the specific type of planning mechanism employed. Socialist states based on the Soviet model have used central planning, although a minority such as the former Socialist Federal Republic of Yugoslavia have adopted some degree of market socialism. Market abolitionist socialism replaces factor markets with direct calculation as the means to coordinate the activities of the various socially-owned economic enterprises that make up the economy. More recent approaches to socialist planning and allocation have come from some economists and computer scientists proposing planning mechanisms bas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rational Choice Theory
Rational choice theory refers to a set of guidelines that help understand economic and social behaviour. The theory originated in the eighteenth century and can be traced back to political economist and philosopher, Adam Smith. The theory postulates that an individual will perform a cost-benefit analysis to determine whether an option is right for them.Gary Browning, Abigail Halcli, Frank Webster (2000). ''Understanding Contemporary Society: Theories of the Present'', London: SAGE Publications. It also suggests that an individual's self-driven rational actions will help better the overall economy. Rational choice theory looks at three concepts: rational actors, self interest and the invisible hand. Rationality can be used as an assumption for the behaviour of individuals in a wide range of contexts outside of economics. It is also used in political science, sociology, and philosophy. Overview The basic premise of rational choice theory is that the decisions made by individua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Era Of Stagnation
The "Era of Stagnation" (russian: Пери́од засто́я, Períod zastóya, or ) is a term coined by Mikhail Gorbachev in order to describe the negative way in which he viewed the economic, political, and social policies of the Soviet Union that began during the rule of Leonid Brezhnev (1964–1982) and continued under Yuri Andropov (1982–1984) and Konstantin Chernenko (1984–1985). It is sometimes called the "Brezhnevian Stagnation" in English. Terminology During the period of Brezhnev's leadership, the term "Era of Stagnation" was not used. Instead Brezhnev used the term "period of developed socialism" (Russian: период развито́го социализма) for the period that started in 1971. This term stemmed from Khrushchev's promise in 1961 of reaching communism in 20 years. It was in the 1980s that the Soviet leader Mikhail Gorbachev coined the term "Era of Stagnation" to describe the economic difficulties that developed when Leonid Brezhnev ruled ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the Sustainable Development Goals as well as environmental and social safeguards. , the World Bank is run by a president and 25 executive directors, as well as 29 various vic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Literacy Rate
Literacy in its broadest sense describes "particular ways of thinking about and doing reading and writing" with the purpose of understanding or expressing thoughts or ideas in written form in some specific context of use. In other words, humans in literate societies have sets of practices for producing and consuming writing, and they also have beliefs about these practices. Reading, in this view, is always reading something for some purpose; writing is always writing something for someone for some particular ends. Beliefs about reading and writing and its value for society and for the individual always influence the ways literacy is taught, learned, and practiced over the lifespan. Some researchers suggest that the history of interest in the concept of "literacy" can be divided into two periods. Firstly is the period before 1950, when literacy was understood solely as alphabetical literacy (word and letter recognition). Secondly is the period after 1950, when literacy slowly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Expectancy
Life expectancy is a statistical measure of the average time an organism is expected to live, based on the year of its birth, current age, and other demographic factors like sex. The most commonly used measure is life expectancy at birth (LEB), which can be defined in two ways. ''Cohort'' LEB is the mean length of life of a birth cohort (all individuals born in a given year) and can be computed only for cohorts born so long ago that all their members have died. ''Period'' LEB is the mean length of life of a hypothetical cohort assumed to be exposed, from birth through death, to the mortality rates observed at a given year. National LEB figures reported by national agencies and international organizations for human populations are estimates of ''period'' LEB. In the Bronze Age and the Iron Age, human LEB was 26 years; in 2010, world LEB was 67.2 years. In recent years, LEB in Eswatini (formerly Swaziland) is 49, while LEB in Japan is 83. The combination of high infant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Infant Mortality
Infant mortality is the death of young children under the age of 1. This death toll is measured by the infant mortality rate (IMR), which is the probability of deaths of children under one year of age per 1000 live births. The under-five mortality rate, which is also referred to as the ''child mortality rate'', is also an important statistic, considering the infant mortality rate focuses only on children under one year of age. In 2013, the leading cause of infant mortality in the United States was birth defects. Other leading causes of infant mortality include birth asphyxia, pneumonia, congenital malformations, term birth complications such as abnormal presentation of the fetus umbilical cord prolapse, or prolonged labor, neonatal infection, diarrhea, malaria, measles, and malnutrition. One of the most common preventable causes of infant mortality is smoking during pregnancy. Lack of prenatal care, alcohol consumption during pregnancy, and drug use also cause complication ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GDP Per Capita
Lists of countries by GDP per capita list the countries in the world by their gross domestic product (GDP) per capita. The lists may be based on nominal or purchasing power parity Purchasing power parity (PPP) is the measurement of prices in different countries that uses the prices of specific goods to compare the absolute purchasing power of the countries' currencies. PPP is effectively the ratio of the price of a baske ... GDP. Gross national income (GNI) per capita accounts for inflows and outflows of foreign capital. Income inequality metrics measure the distribution of income between rich and poor. Lists *GDP ** List of countries by GDP (nominal) per capita ** List of countries by GDP (PPP) per capita *GNI ** List of countries by GNI (nominal) per capita ** List of countries by GNI (PPP) per capita {{DEFAULTSORT:GDP per capita Lists of countries by GDP ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Sheet
In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a "snapshot of a company's financial condition". Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. A standard company balance sheet has two sides: assets on the left, and financing on the right–which itself has two parts; liabilities and ownership equity. The main categories of assets are usually listed first, and typically in order of liquidity. Assets are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Socialist
State socialism is a political and economic ideology within the socialist movement that advocates state ownership of the means of production. This is intended either as a temporary measure, or as a characteristic of socialism in the transition from the capitalist to the socialist mode of production or to a communist society. State socialism was first theorised by Ferdinand Lassalle. It advocates a planned economy controlled by the state in which all industries and natural resources are state-owned. Aside from anarchists and other libertarian socialists, there was, in the past, confidence amongst socialists in the concept of state socialism as being the most effective form of socialism. Some early social democrats in the late 19th century and early 20th century, such as the Fabians, claimed that British society was already mostly socialist and that the economy was significantly socialist through government-run enterprises created by conservative and liberal governments which cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mixed Economies
A mixed economy is variously defined as an economic system blending elements of a market economy with elements of a planned economy, markets with state interventionism, or private enterprise with public enterprise. Common to all mixed economies is a combination of free-market principles and principles of socialism. While there is no single definition of a mixed economy, one definition is about a mixture of markets with state interventionism, referring specifically to a capitalist market economy with strong regulatory oversight and extensive interventions into markets. Another is that of active collaboration of capitalist and socialist visions. Yet another definition is apolitical in nature, strictly referring to an economy containing a mixture of private enterprise with public enterprise. Alternatively, a mixed economy can refer to a reformist transitionary phase to a socialist economy that allows a substantial role for private enterprise and contracting within a dominant ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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