National economies can be run from the top down, so to speak, in what is sometimes called a command economy or they can be run from the bottom up in what is sometimes called a free market. In the ...

Alternatively, the central government may run its command economy as did the Soviet Union, arguably the most famous example of a command economy. The Soviet Union owned the means of production, a ...

A command economy consists of an economic system in which the government, as opposed to private parties, dictates the production and distribution of goods and services. Fox Business.

What Is a Command Economy? By John Maxfield – Aug 31, 2015 at 6 ... North Korea, and the former Soviet Union. Command economies came into vogue in the aftermath of the industrial revolution.

A command economy consists of an economic system in which the government, ... The Soviet Union collapsed, propelling many of its former satellite states toward the free-market ideals of Europe.

From industrial juggernaut to economic disaster, the Soviet Union’s economy tells the dramatic story of a global superpower built on centralized control, rapid expansion—and eventual collapse.

Nikolai Ryzhkov, a premier of the Soviet Union who in 1990 took the brunt of the blame for economic chaos that engulfed the last years of communist rule, leading to the nation’s political ...

Mr. Ryzhkov, who ascended to the Soviet Union’s second most powerful post in 1985, took much of the blame for the economic collapse that led to the country’s dissolution in 1991.