Question

How did the Russians make a socialist economy through centralised planning?

Elaborate.​

Answer 1

Answer:

The economic structure in the Soviet Union was neither socialist nor capitalist. It was a centralised system which involved a form of a bureaucratic class rule. But the system was governed by power based monopolized decision-making authority and information. The system as not socialist because the "working class" was subordinate and oppressed; they didn’t have any right to form their own organisations. It was centrally planned and was administered through the party-state apparatus.