Advantages and diadvantages of command economy?

Question

Advantages and diadvantages of command economy?

Answer 1

Advantages: it makes those at the top think they have power.

Disadvantages: it doesn't deliver the goods.

http://en.wikipedia.org/wiki/Planned_eco...

The classic examples are Stalinist Russia and Maoist China, both of which were dismal failures:

http://en.wikipedia.org/wiki/Economy_of_...

http://en.wikipedia.org/wiki/Great_Leap_...

Answer 2

Advantages:  You can get the majority of your economy all focused on 1 goal.

Disadvantages: Ignoring other aspects of the economy like Inflation or the Environment.

Unbalanced growth like in China has the side effects of pollution, corruption, inflation, etc...