What is a Command Economy?

This video looks at a command economy. It analyzes the different advantages and disadvantages of the economy and explains how life is in this economy.

[ggirl]

i learned more from you then my own teacher.. thank you

[james]

The disadvantages of being told what to do can easily apply to capitalism because that's how a corporation or company works. Taylorism

[Justin-prec]

I want to ask how a command economy solves the three basic economy problems like what and how much to produce, how to produce and for whom to produce, because this is my assignment question 😂

[allemannen]

Its true that Soviet went from an agricultural economy to an industrial power fast. They produced big quantities of goods but not really good quality.

[nuraqilah]

i want to ask what are the pros and cons of government intervention in the market for necessity goods like egg, fish and chicken. Consider the effects to both consumers and producers.

[dilloncrowder]

Great job Mr. Sinn! I'm your biggest fan. -Coach Crowder

[gameplayzs]

Where are the guided notes I can't find them

[Comradeface]

best thing about a planned economy no recessions or depressions

[Snow-jxxm]

Is command economy similar to a bank-based economy?

[skelly]

What about de-centrally planned economies??

[vladislavshevchenko]

Thanks for your work, you're obviously an educated person and I'd like to discuss with you one point about your video. Mostly I agree with what you said, but I find one of these points questionable. Namely, command economy kills incentive and creativity. I cannot agree with it, because in the Soviet Union was a huge initiative reward system. People who came up with an innovative ideas were getting reward payments, sometimes as large as 10 times the monthly salary, there were medals and ordens. For example orden "Hero of socialist labor" was the highest reward for civilian and was equal to military orden "Hero of the Soviet Union". On the TV every day on every channel (in different time on different channels) there was "hero of socialist labor" program which in 5-10 minutes introduced the most innovative workers, engineers, scientists and their innovations/discoveries.

[samikshachhetri]

Thanks again Mr.Sinn for this fruitful video...Am still waiting for World System Theory..

[SandraB]

Thank you so much sir!! Again sir? Can I ask a guided notes? Thank you again sir.

[jcrios]

Not too bad, planned economies were probably less efficient compared to Western Market economies by the 1970's, but the evidence suggests that while less efficient, the planned economies were able to achieve rapid industrialization, maintain economic stability, achieve a relative and rough equitable distribution of income, full employment and the welfare state.

[karambos]

Corporations in the US are command economies

[thebitterartist]

Nice try at making a video on command economies, however you don't understand what command economies are. They enable the government (and assuming a developed democracy, the people) to create any economy they want. A command economy could literally be the same as a market economy by simulating one (just profits go to the government instead of a rich individual). Yes some command economies are terrible, however command economies are a tool that can simulate any economy so they can be used to make terrible economies, or great ones.

[joaolisboa]

1/3rd of xx century patents come from ussr i just debunked a disadvantage

[TheGoreforce]

I was hoping that I didn't confirm that we are in an indirect command economy, We command through governmental incentives.

[ilovemajjj]

Thank you so much this helped me a lot!

[Alleee]

Holy moly I have the work pages and I have no clue how they "go along with the video" I’m hella confused w this haha