Planned Economies: The Heavy Legacy of a Failed Experiment and a Note on A.I. and Technosocialism

Cerna Silviu
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Cerna Silviu: Universitatea de Vest din Timişoara

Revista OEconomica, 2024, issue 01-2

Abstract: A planned (socialist/communist) economy is a system/arrangement in which decisions are made by the state apparatus through a plan that sets production targets for a period of one year (annual plan) or several years (five-year plan). In the 1920s and 1930s, there was an intense debate in the economic literature about the possibility of economic calculation in socialism/communism.

Keywords: free market; socialism; economic calculation; central planning; artificial intelligence (search for similar items in EconPapers)
JEL-codes: B50 O20 P00 (search for similar items in EconPapers)
Date: 2024
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