Are command economies the only way to achieve economic equity?

Equality is a funny thing, maybe because no one can agree on what it is. Economic equity doesn't exist so long as private property exists. read more

Perfect competition achieves equity, but it doesn't exist in the real world; it's only an ideal. An ideal command economy could achieve equity. Theoretically, regulation can achieve equity in imperfect markets, but in the real world it's also like herding cats. No real economy can achieve equity. read more

Start studying Market and Command Economies. Learn vocabulary, terms, and more with flashcards, games, and other study tools. read more

In a command economy an authority such as the government, governmental agency, or central planners decide what to produce, how to produce and to whom goods and services will be allocated. read more