How did the Russians make a socialist economy through centralised planning?
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Answer:Russia is a centrally planned economy undergoing transformation to a free market economy. Russia's gross demostic product(GDP) lies roughly between those of Canada and the United Kingdom.
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The economy of the USSR was based on a system of state ownership of the means of production, industrial manufacturing, collective farming, and centralised administrative planning
EXPLANATION:
- There was no Marxist or Capitalist economic structure in the Soviet Union. It was a centralized system, requiring some sort of red tape.
- Nevertheless, the system was dominated by monopolized authority and knowledge for decision-making was based on power.
- The system was not socialist, since they were subordinated and oppressed by the' working class;' they had no right in themselves. It was centrally planned and managed through the apparatus of the party state.
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