Originally posted by HoldTheBeans
Same thing could be happening here next year if things keep going the way they are.
Originally posted by Watts
What's goin on in the world??
State-directed economySee also: State-directed economy
A state-directed economy is a system where either the state or worker cooperatives own the means of production, but economic activity is directed to some degree by a government agency or planning ministry through coordinating mechanisms such as indicative planning and dirigisme. This differs from a centralised planned economy (or a command economy) in that micro-economic decision making, such as quantity to be produced and output requirements, are left to managers and workers in the state and cooperative enterprises rather than being mandated by a comprehensive economic plan from a centralised planning board. However, the state will plan long-term strategic investment and seek to coordinate at least some aspects of production. It is possible for a state-directed economy to have elements of both a market and planned economy. For example, investment decisions may be semi-planned by the state, but decisions regarding production may be determined by the market mechanism.
State-directed socialism can also refer to technocratic socialism; economic systems that rely on technocratic management over the means of production and economic policy.
In western Europe, particularly in the period after World War II, many socialist and social democratic parties in government implemented what became known as mixed economies, some of which included a degree of state-directed economic activity. In the biography of the 1945 UK Labour Party Prime Minister Clement Attlee, Francis Beckett states: "the government... wanted what would become known as a mixed economy". Beckett also states that "Everyone called the 1945 government 'socialist'." These governments nationalised major and economically vital industries while permitting a free market to continue in the rest. These were most often monopolistic or infrastructural industries like mail, railways, power and other utilities. In some instances a number of small, competing and often relatively poorly financed companies in the same sector were nationalised to form one government monopoly for the purpose of competent management, of economic rescue (in the UK, British Leyland, Rolls-Royce), or of competing on the world market.