1. Economies of the World
... the centralized economic system of China and of the former Soviet Union and its satellite countries in Eastern Europe. This system, associated with collective ownership of the means of production, central economic planning, and rule by a single political party, was discredited almost everywhere outside China, North Korea, Cuba, and Vietnam as a result of its collapse in Europe and the USSR. Communism ... is not as much a form of Socialism, as much as it is the next step after Socialism. In a socialist government, there still is a central controlling body overseeing the welfare of the pe...
- Word Count: 814
- Approx Pages: 3
- Has Bibliography