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After the dissolution of the Soviet Union and the transition from a centrally planned economy, the resource wealth of the southern Soviet republics and Mongolia was seen as a major advantage for their national economic development.
It can be readily observed that the planner's problem in the centrally planned economy coincides with the agent's problem in the market economy when [phi]=1.
During the 1990s, the inefficiencies of North Korea's centrally planned economy, especially its promotion of state-owned heavy industries, along with high military spending--about 15-25% of GDP--joined with drought and floods to push the economy into crisis.
After the death of William Aberhart in 1943, Alberta's Socreds abandoned their centrally planned economy and heavy-handed approach to government.
Hayek concerning the problems of economic calculation that a centrally planned economy confronts and the political logic of central control that provides a mechanism for the worst to get on top.
The next sections describe the decentralized economy and the centrally planned economy.
Russia "began the 1990s as a highly distorted and disintegrating centrally planned economy, with severe shortages of consumer goods and a massive military establishment.
Bulgaria is planning to sell up to 100% of Bulgaria Air as part of measures to reform its once centrally planned economy and to inject cash into the recently created company.
The first chapter, an early study by a Czech economist during the Communist period does a brief and abstract economic analysis of why a centrally planned economy takes little notice of consumer feedback into consideration in the production of goods for society.
The relationship between Mongolia and North Korea has been strained in recent years as the reform-minded Mongolian government scuttled its centrally planned economy and sought closer ties with capitalist South Korea.
This is already being seen as a role model for more foreign investors to make inroads into the commercial sector, which has been sluggish and returning low profits for years due to outdated management practices left over from China's centrally planned economy.

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