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... more reason to socialize economic life than there was before” (p. 379). ...
The Anglo-Saxon vs. the Rhine Model of Kism
The Anglo-Saxon vs. the Rhine Model of Kism

... there
has
never
been
a
will
to
make
it
as
equal
as
in
some
of
the
Rhine
countries.

There
have

also
been
 times
when
government
has
taken
a
lead
role
in
managing

key
infrastructure
industries
like
finance
 today
or
the
railroads
during
WWI,
but
only
temporarily
,
in
cases
of
national
emergency.

 ...
generally present - Foundation for Teaching Economics
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Econ 372 - Marietta College

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Economic planning

Economic planning is a mechanism for economic coordination contrasted with the market mechanism. There are various types of planning procedures and ways of conducting economic planning. As a coordinating mechanism for socialism and an alternative to the market, planning is defined as a direct allocation of resources and is contrasted with the indirect allocation of the market.The level of centralization in decision-making in planning depends on the specific type of planning mechanism employed. As such, one can distinguish between centralized planning and decentralized planning. An economy primarily based on central planning is referred to as a planned economy. In a centrally planned economy the allocation of resources is determined by a comprehensive plan of production which specifies output requirements. Planning may also take the form of directive planning or indicative planning.Most modern economies are mixed economies incorporating various degrees of markets and planning.A distinction can be made between physical planning (as in pure socialism) and financial planning (as practiced by governments and private firms in capitalism). Physical planning involves economic planning and coordination conducted in terms of disaggregated physical units; whereas financial planning involves plans formulated in terms of financial units.
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