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| | Socialism, by Robert Heilbroner: The Concise Encyclopedia of Economics: Library of Economics and Liberty |
 | | Socialismdefined as a centrally planned economy in which the government controls all means of productionwas the tragic failure of the twentieth century. |
 | | At its apex was Gosplan, the highest state planning agency, which established such general directives for the economy as the target rate of growth, the allocation of effort between military and civilian outputs, between heavy and light industry, or among various regions. |
 | | In theory such an order book should enable planners to reconstitute a working economy each yearprovided, of course, that the nuts fitted the bolts, the girders were of the right dimensions, the grain output was properly stored, the tractors operable, and the cotton, cardboard, and coal of the kinds needed for their manifold uses. |
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